Sources: U.S. Concrete Inc., Euless, Texas; CP staff
The U.S. Concrete Precast Group wind down is a done deal with the unloading of a Middleburg, Pa., architectural plant, buyer and sum undisclosed. The move caps a strategy U.S. Concrete effected nearly three years ago with the sale of its northern and southern California precast operations, followed by a Phoenix site—Oldcastle Precast and Jensen Precast, respectively, the suitors in the transactions, totaling about $25 million.
The Pennsylvania plant deal, notes U.S. Concrete CEO William Sandbrook, “Marks completion of our exit from the noncore precast concrete business. Since 2011, we have taken many successful steps to strategically position our business to capitalize on heavy construction material opportunities in our markets. This timely and accretive divestiture is another positive accomplishment and highly aligned with our strategic direction.”