RICHMOND, Va., July 20, 2012 – Americast, Inc. and Hanson Pipe & Precast LLC, announced today they have signed an agreement to form a new joint venture company to be known as Concrete Pipe & Precast, LLC (CP&P). The new company will consist of selected Americast and Hanson Pipe & Precast LLC operations and will manufacture, market, and sell a complete line of concrete pipe and precast products in much of the mid-Atlantic and southeastern United States. CP&P will have manufacturing facilities in Ashland, Chesapeake, Hanover, Harrisonburg, Roanoke and Salem, Virginia; Martinsburg, West Virginia; Jessup, Maryland; Dunn and Oakboro, North Carolina; Barnwell, Charleston and Summerville, South Carolina; and Rincon, Georgia. Americast and Hanson Pipe & Precast LLC will have equal interests in the venture.
“The construction industry has been severely impacted by the adverse economic conditions over the last five years. I wholeheartedly believe that this partnership between two best-in-class precast and pipe manufacturers will enable us to build a more efficient, sustainable company that is positioned to succeed in a dynamic marketplace. The industry is changing and we are excited to change with it,” said Bill Tichacek, President of Americast.
“This joint venture in these selected markets will allow our combined operations to remain competitive and strong in today’s evolving marketplace while ensuring our customers and the communities they service receive the quality concrete products they’ve come to depend on,” explained Bob Christensen, Senior Vice President of Hanson Pipe & Precast.
The closing of the transactions to form the joint venture is subject to conditions typical of a transaction of this nature. The parties anticipate that the closing will occur and that Concrete Pipe & Precast, LLC will begin operations on August 1, 2012.
Americast, Inc. is a wholly owned subsidiary of Eagle Corporation, a diversified building products company headquartered in Charlottesville, Virginia. It is a leading supplier of precast concrete solutions in the mid-Atlantic region. The company specializes in the design and manufacturing of a complete line of concrete pipe and precast products for commercial and residential applications. Concrete precast structures include reinforced pipe, manhole components, box culverts, fittings and drainage structures. Americast is committed to providing quality solutions for our customers’ pipe and precast needs. http://www.americastusa.com
About Hanson Pipe & Precast
Hanson Pipe & Precast is the largest manufacturer of concrete pipe and precast products in North America. With more than 3,500 employees, the company has a network of manufacturing facilities and delivery capabilities that span the continent. Hanson Pipe & Precast products are used in residential and commercial applications that support our infrastructure’s needs, including stormwater drainage and water transportation. For more information, visit hansonpipeandprecast.com.
Hanson Pipe and Precast, LLC and its affiliates are part of Lehigh Hanson, Inc. Lehigh Hanson is a member of the HeidelbergCement Group, the global leader in aggregates with leading positions in cement, concrete and heavy building materials. The company employs approximately 52,000 people in more than 40 countries.