The New Jersey based high quality concrete sand provider, Corbett Aggregates Companies has sold its assets to US Concrete, a major player in the USA construction industry.
PUBLICITÉ
U.S Concrete CEO, Bill Sandbrook declared: "The acquisition of Corbett meets our strategic objective of increasing self-sufficiency in our internal aggregates sourcing especially in an area of the country with quickly depleting fine aggregates resources. Additionally, the ability to ship concrete sand to our metropolitan New York City markets by water is another strategic benefit to this acquisition as trucking becomes ever more expensive due to traffic congestion and increasing bridge tolls. This acquisition will have an immediate positive impact on our operating results and we look forward to continuing to identify other growth opportunities in our targeted markets."
In parallel to the acquisition, U.S Concrete agreed a long-term lease with the South Jersey Port Corporation for an export dock which is situated about six miles from the aggregates operation. The agreement also enables the Company to move coarse and fine aggregates through the North Shore Terminal on Staten Island, New York.
