HOUSTON, May 22 /PRNewswire-FirstCall/ -- U.S. Concrete, Inc. (NASDAQ:RMIX) today announced that John M. Piecuch has been appointed nonexecutive chairman of its board of directors, effective May 22, 2008. Mr. Piecuch succeeds Vincent D. Foster, a founding director of the Company, who has served as nonexecutive chairman since 1999. Mr. Foster will remain an active member of the board, including serving on its audit, compensation and executive committees.
Mr. Piecuch has served on the U.S. Concrete Board of Directors since February 2007. He is also a member of the board of directors of Brampton Brick Limited, a Toronto stock exchange listed company and serves as the chairman of its audit committee. Most recently Mr. Piecuch was president and chief executive officer of MMI Products, Inc., a large national manufacturer and distributor of building and construction material products. Previously, Mr. Piecuch served as president and chief executive officer of Lafarge Corporation, which was traded on the New York Stock Exchange and is one of the largest construction material companies and a leading producer of cement, aggregates, ready-mixed concrete and other related products in North America.
Michael W. Harlan, U.S. Concrete's President and Chief Executive Officer stated, "Vince was instrumental in the formation of U.S. Concrete and has served as nonexecutive chairman of our board of directors since our initial public offering in May 1999. He has been a driving influence in both developing and assisting the Company in executing its growth and financing strategy over the past nine years. We are pleased that Vince has agreed to continue to serve on the board and represent our stockholders. I want to personally thank him, for it is through his relentless efforts and foresight that U.S. Concrete exists today".
"We were fortunate to add someone of John's stature to our board last February," stated Vincent D. Foster. "Given his significant experience in the building and construction materials industry, as chairman of the board he will play a key leadership role in the continued evolution of the Company." U.S. Concrete services the construction industry in several major markets in the United States through its two business segments: ready-mixed concrete and concrete-related products; and western precast concrete. The Company has 124 fixed and eight portable ready-mixed concrete plants, eight pre-cast concrete plants, one concrete block plant and seven producing aggregates facilities. During 2007, these plant facilities produced approximately 7.2 million cubic yards of ready-mixed concrete, 2.7 million eight-inch equivalent block units and 3.8 million tons of aggregates. For more information on U.S. Concrete, visit http://www.us-concrete.com/.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS This press release contains various forward-looking statements and information that are based on management's belief, as well as assumptions made by and information currently available to management. These forward-looking statements speak only as of the date of this press release. The Company disclaims any obligation to update these statements and cautions you not to rely unduly on them. Forward-looking information includes, but is not limited to the effect of Mr. Piecuch as chairman of the Board of the Company. Although U.S. Concrete believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that those expectations will prove to have been correct. Such statements are subject to certain risks, uncertainties and assumptions, including, among other matters: general and regional economic conditions; the level of activity in the construction industry; the ability of U.S. Concrete to effectively integrate the operations of acquired companies; development of adequate management infrastructure; departure of key personnel; access to labor; union disruption; competitive factors; government regulations; exposure to environmental and other liabilities; the cyclical and seasonal nature of the Company's business; adverse weather conditions; the availability and pricing of raw materials; and general risks related to the industry and markets in which U.S. Concrete operates. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. These risks, as well as others, are discussed in greater detail in U.S. Concrete's filings with the Securities and Exchange Commission, including U.S. Concrete's Annual Report on Form 10-K for the year ended December 31, 2007, and the Company's subsequently filed Quarterly Report on Form 10-Q. DATASOURCE: U.S. Concrete, Inc.
CONTACT: Robert D. Hardy, CFO of U.S. Concrete, Inc., +1-713-499-6222 Web site: http://www.us-concrete.com/
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