Ingram Industries, one of the U.S. largest privately held companies with diversified businesses, has signed an agreement with Pine Bluff Sand and Grave, an aggregate and marine construction company, to divest its Ingram Materials subsidiary.
Ingram Materials produces fine aggregates for use in masonry, asphalt and concrete projects in Northern Alabama, Western Kentucky and Middle Tennessee. The unit owns distribution centers in Decatur and Florence, Alabama; Paducah, Kentucky; and New Johnsonville, Clarksville and Nashville, Tennessee. It also operates three sand dredges in Paducah, Kentucky.
Ingram Industries’ President and CEO, Orrin Ingram stated that the sale of Ingram Materials provides an opportunity for the company to collaborate with a leading company in the construction industry.
According to Pine Bluff’s COO and VP, Brian McGeorge the acquisition of Ingram Materials will strengthen Pine Bluff’s leadership status in the sand and aggregate industry. Pine Bluff is looking forward to continue and expand the relationship with Ingram’s customers and partner-distributors, McGeorge said.
After the transaction, Ingram Materials will be renamed as Pine Bluff Materials. In addition, Ingram Barge Company and Pine Bluff will sign a long-term contract to tow Pine Bluff’s gravel and sand barges on the Tennessee and Cumberland rivers.
Source: http://ingrammaterials.com/default.aspx?v=imat/home