Florida Rock Industries, Jacksonville, has extended its leading role in Virginia ready mixed with the acquisition of four-plant Newington Concrete Corp.
CP STAFF
Florida Rock Industries, Jacksonville, has extended its leading role in Virginia ready mixed with the acquisition of four-plant Newington Concrete Corp. The deal includes the flagship Newington property, just outside Washington, D.C., and three plants to the south or west operating as NewRock Materials. The newest plant is a twin-alley, 300-plus-yd./hour showcase facility in Gainesville, which opened in 2002 and is strategic to an expanding Interstate 66 and U.S. 29 corridor south of Dulles International Airport. Built on a 4.8-acre, rail-served industrial park site, the plant was designed to accommodate a 20,000-ton capacity aggregate depot operated in partnership with Cedar Mountain Stone, Culpeper, Va.
Newington/NewRock is a premier independent whose pursuit of ISO 9001 and 14000 certification has positioned it among the industry’s elite in quality assurance and environmental management. Florida Rock will bring the company under its Northern Concrete Group, based in Springfield, Va. The Group encompasses lead Washington, D.C. and northern Virginia business, Cardinal-Virginia Concrete, and five other franchises throughout the state that carry local identities. The Newington/NewRock deal will add more than 50 trucks to Florida Rock’s fleet, which between Northern and Florida Concrete Groups has upwards of 1,400 mixers. The transaction coincides with Florida Rock’s reporting of record financial results for a fiscal first quarter, with earnings growth of nearly 40 percent year over year. Strong financial performance is likewise reflected in the company’s stock, which between January 2005 and Feburary 2006 rose 52 percent.