Texas-based U.S. Concrete, Inc. has closed on a $142 million deal for Coram Materials Corp., significantly expanding its East Coast aggregates portfolio. “Coram’s 50 million tons of reserves, located in the quickly depleting Long Island sand market, increases the vertical integration of our New York operations, strengthens our competitive position and advances the continuation of our strategy of expanding into higher margin aggregates businesses,” says (retiring) Chairman William Sandbrook. Following successful integration of Vancouver-based Polaris Materials, acquired in 2018, he adds, U.S. Concrete continues “to seek opportunities of coupling the pull through capabilities of our large regional ready-mixed concrete operations with attractive aggregate assets.”
Separately, U.S. Concrete directors have nominated Rajan Penkar for election to the board during next month’s annual meeting of stockholders. A nearly 25-year veteran of United Parcel Service with a three-year Sears Holding Corp. tour of duty, Penkar is president and founder of Supply Chain Advisory Services, which provides retailers e-commerce and omni-channel supply chain design and optimization services.
“Mr. Penkar’s extensive experience in logistics and sourcing brings a unique set of qualities and I believe he will help further drive shareholder value, if elected,” notes U.S. Concrete Lead Independent Director Michael Lundin. “[His] diverse background in technology and e-commerce will support the company’s major investment in and strategic focus on innovation through its suite of dispatching and cloud-based apps, including Where’s My Concrete?. His experience in all aspects of the supply chain including global sourcing, retail and e-commerce distribution and fulfillment, global transportation, and inventory management will enhance the company’s operations and deliveries, further building the value-proposition.”
United Parcel Service President, U.S. Operations George Willis has been elected to the 11-member Vulcan Materials Co. board and will serve on the Audit and Safety, Health and Environmental Affairs Committees. “George has demonstrated exceptional leadership in his over 35-year career with UPS. His extensive experience with operations and logistics in a complex global business environment will provide us with invaluable insight on matters critical to our business,” says Vulcan Chairman Tom Hill.
Heldenfels Enterprises, Inc. recently appointed Chad Petro as executive vice president and general manager, overseeing San Marcos (headquarters) and Corpus Christi, Texas precast/prestressed concrete operations, as well as integrating the management team’s business planning goal setting and accountability. Prior to his new role, he was director of Preconstruction Services and, more recently, general manager for the Corpus Christi market. Petro holds a B.S. in Civil Engineering from Texas A&M University.
Paul Elrod, formerly San Marcos general manager, is assuming a new position with Heldenfels Enterprises as director of Project Management, responsible for developing new business in both commercial and highway construction as well as overseeing construction services, management and customer service behind all contracts. He has studied engineering at the Colorado School of Mines and will complete a BBA at Colorado State University next year.