Houston, TX, February 01, 2011 --(PR.com
)-- U.S. Concrete, Inc. (OTCBB: USCR) today announced that The NASDAQ Stock Market LLC has approved its application for the relisting of its common stock on The NASDAQ Capital Market. U.S. Concrete’s common stock will resume trading on The NASDAQ when the market opens on Tuesday, February 1, 2011 under the symbol "USCR."
"We are extremely pleased to be relisted on the NASDAQ, as it will allow our shares to be held by a broader range of investors and facilitates increased shareholder liquidity," said Michael W. Harlan, U.S. Concrete’s President and Chief Executive Officer. "Relisting also provides greater visibility within the investment community and reflects the significant financial progress we have achieved as part of our effort to build shareholder value."
About U.S. Concrete
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 precast concrete. The Company has 101 fixed and 11 portable ready-mixed concrete plants, seven precast concrete plants and seven producing aggregates facilities. During 2009 (including acquired volumes), these plant facilities produced approximately 4.0 million cubic yards of ready-mixed concrete and 3.0 million tons of aggregates. For more information on U.S. Concrete, visit 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 beliefs, 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 the Company’s relisting on the NASDAQ and our financial process. 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 complete acquisitions and 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 U.S. Concrete'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, 2009 and its Form 10-Q for the nine months ended September 30, 2010.