Cemex forming joint venture company with Concrete Supply

Cemex and Concrete Supply Co. entered into an agreement to form a joint venture company, which will be called Concrete Supply Co. LLC. The transaction is expected to close later this year.

The joint venture, which will have a production capacity of 2 million cu. yd., will produce concrete in North Carolina and South Carolina. Concrete Supply will be the majority owner and managing member.

“The joint venture with Concrete Supply Co. will create a regionally focused company with strong local management that will be able to service every facet of the market from the largest to smallest projects,” says Karl Watson, Jr., Cemex president, in a press release. “The new joint venture will have the ability to apply best practices from Cemex’s global operations yet operate as a local, Carolina concrete company.”