This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CEMEX And Concrete Supply Co. Announce Joint Venture

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.

Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs