CSR America is continuing its expansion in the US construction materials sector with the further acquisition of two manufacturers of precast concrete products, American Precast Concrete, Inc. and Setco, Inc.
Founded in 1964, American Precast is a leading full-service provider of architectural and structural precast, industrial wall systems, and other prestressed concrete building components. The company operates a plant in Indianapolis, Indiana, supplying customers in six states.
CSR America Chief Executive David Clarke said American Precast provides CSR America’s Concrete Pipe and Products division with a strong strategic link to the company’s current operations in Henderson, Kentucky and Lafayette, Indiana. "This enhances CSR America’s ability to service our customers throughout the central and west central United States with a full range of precast and prestress products," he said.
SETCO operates a manufacturing facility in Baytown, Texas, about 50 kilometres southeast of Houston, and is a major supplier of precast concrete safety end treatments (SETs) - motor vehicle safety barriers which adjoin pipe culverts.
"As with American Precast, this acquisition will allow us to build on our existing market share in Houston and the surrounding area by extending the range of quality precast products we can offer to our customers," said Mr. Clarke.
CSR America’s prestress division produces prestressed bridge and building components for stadiums, commercial buildings, bridges, and parking garages.
The acquisitions of American Precast and SETCO follow several other acquisitions and multi-million dollar investments in new plant construction and modernization. CSR America has recently commissioned the new Frederick, Maryland concrete pipe plant to service markets in Maryland, Washington D.C. ,and northern Virginia. Further pipe plants are under construction in Columbia, Southern Carolina; Houston, Texas and Alexandria, Louisiana .
The company is the largest supplier of concrete pipe and products in the US, with operations in 29 states.
"These latest acquisitions and capital investment in new plant continue our strategy of bolt-on acquisitions, ongoing geographic expansion and the development of low-cost, state-of-the-art production capacity by our CSR America Concrete Pipe and Products business," said CSR Limited Managing Director Peter Kirby.
"We are continuing to build on our position of the world’s largest producer of concrete pipe, and a leading producer of precast bridge and building components in the United States," he said.
In line with other recent investments, these latest acquisitions are projected to begin adding shareholder value within the first year of operation.