CEMEX (NYSE:CX) and Concrete Supply Co. are pleased to announce that they have entered into an agreement to form a joint venture company. The joint venture company will be known as Concrete Supply Co., LLC. With a production capacity of 2 million cubic yards, the new joint venture will be a leading concrete producer in North and South Carolina.
The joint venture will be majority owned by Concrete Supply Holdings Co. who will act as the managing member. The transaction is expected to close later this year.
“This combination will enable us to substantially improve both the ability of the combined company to service our customers and the cost structure of the operations involved, each being essential in a highly competitive marketplace,” said Henry R. Batten, President of Concrete Supply Co. and also of the new joint venture.
“The joint venture with Concrete Supply Co. will create a regionally focused company with strong local management that will be able to service every facet of the market from the largest to smallest projects,” said Karl Watson, Jr., President, CEMEX USA. “The new joint venture will have the ability to apply best practices from CEMEX’s global operations yet operate as a local, Carolina concrete company.”Concrete Supply Co., headquartered in Charlotte, NC, has been a leading producer of ready mix concrete throughout the Carolinas since 1958. The company has a long history of serving customers with integrity and dedication to safety, quality, and service, which Concrete Supply will continue to strongly focus on through the new joint venture. For more information, visit www.concretesupplyco.com. CEMEX is a global building materials company that provides high quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX’s U.S. network includes 13 cement plants, 46 active cement distribution terminals, nearly 100 aggregate quarries and more than 400 ready-mix concrete plants. For more information, visit www.cemexusa.com.
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