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Stock impact report

Knife River Expands in Texas with Acquisition of Construction Materials Operations

Knife Riv Holding Co. (KNF) 
Company Research Source: Business Wire
BISMARCK, N.D.--(BUSINESS WIRE)--Knife River Corporation (NYSE: KNF) announced today that it has acquired the assets of Texcrete Operations LLC and TexAgg LLC (collectively “Texcrete”), supporting the company’s growth efforts in the Texas Triangle.Based in the Bryan/College Station market, Texcrete has six ready-mix plants and 85 ready-mix trucks serving Brazos and Montgomery counties. College Station is home to Texas A&M University and Montgomery County is one of the fastest-growing counties in the nation. Texcrete also operates a sand and gravel site that adds 20-plus years of aggregate reserves in the local market, at current production volumes.“This acquisition fits our strategy of focusing on materials-based, vertically integrated operations in mid-size, high-growth markets,” said Brian Gray, Knife River President and CEO. “We expect the ready-mix plants will pull through aggregates from our existing Knife River operations, in addition to leveraging Texcrete’s own supply. We’ Show less Read more
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