UPDATE: U.S. Concrete Shares Climb Near 4%, Approach 52-Week High; Sells Arizona Precast Operations for $4.27 Million

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U.S. Concrete's ( USCR ) wholly owned subsidiary, Smith Precast., Inc., completed the sale of substantially all of its assets for $4.27 million in cash and the assumption of certain obligations by Jensen Enterprises, Inc., dba Jensen Precast.

The company said the proceeds from the sale of Smith Precast will be used to

repay debt under its revolving credit facility and create liquidity for

earnings enhancing activities such as acquisitions and organic growth

opportunities.

USCR shares are up near 4% at around $9.30, close to their 52-week high of $9.69.



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Referenced Stocks: USCR

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