U.S. Concrete repays revolver borrowings with asset sale proceeds

By Sara Rosenberg

New York, Nov. 19 - U.S. Concrete Inc. paid down borrowings under its revolving credit facility using proceeds from the sale of its Knoxville, Tenn., and Wyoming, Del., operations to Oldcastle Materials, Inc., according to a news release.

The sales price was $16.5 million, plus certain adjustments for working capital.

Remaining proceeds from the sale will be used for general corporate purposes.

U.S. Concrete is a Houston-based producer and seller of concrete and related construction materials.

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