U.S. Concrete acquired the assets of Corbett Aggregates Cos., an aggregate operation located in Quinton, New Jersey.
According to U.S. Concrete, this acquisition advances its vertical integration strategy and self-sufficiency in internal aggregate consumption.
Corbett Aggregates Cos. has about 401 acres of land with more than 35 million tons of reserves. The aggregate reserves will support U.S. Concrete’s family of businesses in the New York metropolitan market and its third-party customers, the company adds.
“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,” says Bill Sandbrook, president and CEO of U.S. Concrete. “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 connection with the deal, U.S. Concrete was also assigned a long-term lease with the South Jersey Port Corp. for an export dock located about six miles from Corbett Aggregates Cos.
