Rock Products

NOV 2012

Rock Products is the aggregates industry's leading source for market analysis and technology solutions, delivering critical content focusing on aggregates-processing equipment; operational efficiencies; management best practices; comprehensive market

Issue link: https://rock.epubxp.com/i/94280

Contents of this Issue

Navigation

Page 11 of 87

IN THE KNOW Edwards Appointed NSSGA President and CEO Gus Edwards, NSSGA's executive vice president since 2008, has been elected by the Board of Directors to succeed Joy Pinniger as the associa‐ tion's president and CEO upon her retirement Nov. 2. Edwards began his service with the National Stone Association in 1997 as vice president for public affairs. After the merger of NSA and the Na‐ tional Aggregates Association in 2000, he continued as vice president for communications and community relations until his appointment as executive vice president. Prior to joining NSA, Edwards was vice president for environment, health and safety with The Jefferson Group, a Washington, D.C., consult‐ ing firm. He had previously served as U.S. deputy assistant secretary of commerce for oceans and atmos‐ phere and deputy assistant adminis‐ trator for external affairs at the U.S. Environmental Protection Agency. These appointments were preceded by 12 years working on Capitol Hill as chief of staff to a member of the U.S. House of Representatives and a U.S. senator. Before moving to Capi‐ tol Hill, Edwards was a newspaper Edwards succeeds Joy Pinniger, who re- tired effective Nov. 2., as the association's president and CEO. Bode Gravel Co. Sold U.S. Concrete Inc. announced that its wholly owned sub‐ sidiary, Central Concrete Supply Co. Inc., has executed a definitive equity purchase agreement with Randolph R. Boardman and Terri L. Boardman Trustees to acquire all of the issued and outstanding equity interests of Bode Gravel Co., a California subchapter S corporation and Bode Concrete LLC, a California limited liability com‐ pany. Bode Gravel and Bode Concrete operate two ready‐ mixed concrete plants, including one new portable plant, and 41 mixer trucks in the San Francisco area and pro‐ duced approximately 243,000 cu. yd. of ready‐mix con‐ crete in 2011. The purchase price for the Equity Interests is $24.5 mil‐ lion in cash payable at closing, subject to adjustment for Bode Gravel and Bode Con- crete operate two ready- mixed concrete plants, including one new portable plant, and 41 mixer trucks in the San Francisco area. 10 ROCKproducts • NOVEMBER 2012 working capital, plus potential earn‐out payments, con‐ tingent upon reaching negotiated volume hurdles, in an aggregate amount of up to $7 million in cash (plus ac‐ crued interest, if any) payable over a six‐year period. The company intends to pay the closing date considera‐ tion from cash on hand and borrowings under the com‐ pany's existing credit facility. U.S. Concrete President and Chief Executive Officer, William J. Sandbrook, said, "We are ex- tremely pleased to have reached this agree- ment with the Boardmans. Bode Concrete has a long and proud history of servicing the greater San Francisco construction market as the city's preeminent supplier of ready mix concrete. We look forward to continuing Bode's reputation of environmental steward- ship, quality production and unparalleled customer service as we welcome them into our network of operations in the greater Bay area." This transaction is subject to customary closing condi‐ tions and is expected to close during the fourth quarter of 2012. www.rockproducts.com reporter in Virginia. He was edu‐ cated at the Virginia Military Insti‐ tute, the George Washington University and Harvard University's Kennedy School of Government. Edwards and his wife, Anne, are the parents of two daughters and reside in Alexandria, Va. PRODUCER NEWS FAST FACT FAST FACT ASSOCIATION NEWS

Articles in this issue

Links on this page

Archives of this issue

view archives of Rock Products - NOV 2012