DOTHAN,
Ala., Aug. 1, 2023 /PRNewswire/ -- Construction
Partners, Inc. (NASDAQ: ROAD) ("CPI" or the "Company"), a
vertically integrated civil infrastructure company specializing in
the construction and maintenance of roadways across six
southeastern states, today announced it has acquired a hot-mix
asphalt plant in Myrtle Beach, South
Carolina from C.R. Jackson, Inc. and established a new
greenfield hot-mix asphalt plant and market in Waycross, Georgia.
Fred J. (Jule) Smith, III, the
Company's President and Chief Executive Officer, said, "Today's
acquisition in South Carolina will
enhance our operations in the fast-growing and dynamic Myrtle Beach-Conway metro area. We entered this
market a year ago with the acquisition of Southern Asphalt and have
been very pleased with the economic growth and activity in the
region. This transaction strengthens our presence in the market and
provides more resources for our South
Carolina coastal area operations."
The Company also announced that it has begun operations at a
newly completed greenfield hot-mix asphalt plant in Waycross, Georgia, creating a new local market
adjoining several existing CPI markets in the fast-growing
southeast region of the state. This market is adjacent to the
second largest port in Georgia and
is positioned on two highly trafficked freight highways and a Class
I railroad hub, all of which are vital corridors for transporting
goods across the state and beyond. The addition of this greenfield
facility strengthens CPI's position in a growing market and further
supports the Company's existing workforce.
Smith added, "As we grow relative market share throughout our
southeastern footprint, we continually evaluate attractive
opportunities to make wise investments that compound and grow
shareholder value."
About Construction Partners, Inc.
Construction Partners, Inc. is a vertically integrated
civil infrastructure company operating across six southeastern
states. Supported by its hot-mix asphalt plants, aggregate
facilities and liquid asphalt terminals, the company focuses on the
construction, repair and maintenance of surface infrastructure.
Publicly funded projects make up the majority of its business and
include local and state roadways, interstate highways, airport
runways and bridges. The company also performs private sector
projects that include paving and sitework for office and industrial
parks, shopping centers, local businesses and residential
developments. To learn more, visit
www.constructionpartners.net.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained herein that are not
statements of historical or current fact constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and 21E of the Securities Exchange Act
of 1934. These statements may be identified by the use of words
such as "seek" "continue," "estimate," "predict," "potential,"
"targeting," "could," "might," "may," "will," "expect," "should,"
"anticipate," "intend," "project," "outlook," "believe," "plan" and
similar expressions or their negative. The forward-looking
statements contained in this press release include, without
limitation, statements relating to the benefits of a new business
location and the expected results of the new location. These and
other forward-looking statements are based on management's current
views and assumptions and involve risks and uncertainties that
could significantly affect expected results. Important factors that
could cause actual results to differ materially from those
expressed in the forward-looking statements are set forth in the
Company's most recent Annual Report on Form 10-K, its subsequent
Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K and
other reports the Company files with the SEC. Forward-looking
statements speak only as of the date they are made. The Company
assumes no obligation to update forward-looking statements to
reflect actual results, subsequent events, or circumstances or
other changes affecting such statements except to the extent
required by applicable law.
Contact:
Rick Black
Dennard Lascar Investor
Relations
ROAD@DennardLascar.com
(713) 529-6600
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SOURCE Construction Partners, Inc.