Texas-based building materials supplier U.S. Concrete, Inc. recently acquired the Long Island sand mining company Coram Materials Corp. for $142 million, the company announced.
The acquisition of the Miller Place-based company marks a significant expansion on the East Coast for U.S. Concrete, the company said.
“This acquisition possesses significant, premium sand reserves that will provide us with self-sufficiency in meeting our sand supply needs to our ready-mixed concrete operations in New York City as well as providing external sales to third party customers,” said U.S. Concrete Chairman and CEO William J. Sandbrook, who is retiring next month after nine years leading the company.
The acquisition comes after U.S. Concrete purchased Vancouver-based Polaris Materials Corporation in 2017.
“Coram’s 50 million tons of reserves, located in the quickly depleting Long Island sand market, increases the vertical integration of our New York operations, strengthens our competitive position and advances the continuation of our strategy of expanding into higher margin aggregates businesses,” Sandbrook added.