The Swedish
As a result, the group is strengthening its position in the concrete market across a large region on the US east coast between Atlanta and Raleigh.
Coastal Concrete is one of the leading producers of ready-mixed concrete in several major cities along the Atlantic coast of Georgia and South Carolina, and the acquisition will reinforce the group's “already strong position in these states.”
This latest US acquisition increases Thomas Concrete Group’s US sales, which is now expected to grow with more than 350 000m³ of ready-mixed concrete/year and adds over 400 million SEK (approximately US$48.3 million/€40 million) to the group’s annual turnover.
Georgia and South Carolina both have a growing population and expanding economies, with substantial investments in logistics, tourism and recreation which entail increased demand for building materials. The group now operates a total of 60 plants in Georgia, South Carolina and North Carolina.
“We have a clear strategy focused on developing our company as the best in the industry,” says Hans Karlander, Thomas Concrete Group’s president and CEO.
“We are therefore continuously evaluating opportunities for structural changes and potential acquisitions in the five countries where we operate, Sweden, Norway, Germany, Poland and the USA. We must continue to improve profitability while laying a solid foundation for the future."
Thomas Concrete Group, which is celebrating its 60th anniversary this year, has successfully acquired and built new concrete plants in Sweden, Germany, Poland and the USA as part of a long-term, strategic growth plan. The group now has 132 plants in four countries and says it is the largest independent provider of ready-mixed-concrete in these markets. In Sweden, it also operates two pre-fab plants and owns a quarry in Norway.
“We see a clear upswing in the US market,” adds Karlander.
“The acquisition of the assets of Coastal Concrete fits well within the Thomas family as there is no geographical overlap with the plants we already own in Georgia and South Carolina. We now enjoy a strong position in a growing market and will be able to deliver an even better service to our customers. In line with our overall strategy, Coastal Concrete is changing its name to Thomas Concrete so it will have a brand identity in common with the rest of the group.”
