U.S. Concrete has completed its acquisition of Canadian aggregates producer, Polaris Materials Corp. The US building materials supplier paid around CAN$309.1 million for Polaris, which operates a sand and gravel quarry in British Colombia, as well as two import terminals in California.
“This acquisition will enable us to self-supply a majority of our current Northern California aggregate requirements and to further expand our footprint into other supply constrained markets along the West Coast,” said U.S. Concrete’s President, CEO and Vice Chairman, William J. Sandbrook.
US Concrete supplies ready-mixed concrete and aggregate products into several major markets in the US, selling approximately 8.1 million yd3 of ready-mixed concrete and around 5.6 million t of aggregates.
“The addition of Polaris to the U.S. Concrete family is further evidence of our commitment to increased vertical integration into aggregates to capitalise on attractive long-term growth opportunities for our shareholders,” added Sandbrook.
Read the article online at: https://www.worldcement.com/the-americas/22112017/us-concrete-completes-polaris-acquisition/