Cemex and Concrete Supply Co. have announced their plans to form a joint venture in the Carolinas. The new company will be known as Concrete Supply Co., LLC and will boast a production capacity of 2 million cubic yards.
Based in Charlotte, N.C., Concrete Supply Holdings Co. will be the majority owner and managing member.
“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 venture.
Cemex president Karl Watson, Jr. cited the potential for regional growth with strong local management, combined with global know-how from Cemex's far-reaching operations.
The transaction is expected to close later this year.