Florida Materials Division expands into Florida’s Panhandle
Rinker Materials recently made an acquisition in the Florida Panhandle Region which extends from Pensacola to Panama City. The acquisition consists of seven concrete sites located in Pensacola, Milton, Crestview, Fort Walton, Fort Walton Beach, Panama City, and Panama City Beach, as well as a maintenance shop in Panama City.
The Panhandle of northwest Florida is an area that we have been monitoring for quite some time. It was one of the few major Florida markets where Rinker Materials did not have a concrete and block presence, although we do have three gypsum distribution yards in the region. The area is strong in tourism and the market is expected to grow strongly over the next few years.
There are currently 80 employees in the seven sites. Initially, the focus will be to introduce the core values of safety, employee satisfaction, customer satisfaction and operational excellence into the work culture, with the focus being on safety.
Senior executive changes
Karl Watson Jr. has returned to the U.S. to take up the position of president of Rinker Materials West. Karl has been Readymix chief executive since December 2001, heading a team that has significantly increased Readymix’s earnings over that period.
Sharon DeHayes has relocated to Sydney to assume the role of Readymix chief executive. Sharon has headed the Florida Materials and Gypsum divisions since late 2001, during which time profits and margins grew strongly.
“Both Karl and Sharon have added significant shareholder value in their current positions,” says Rinker chief executive David Clarke. “Their experiences will transfer well to their new roles, and help ensure that Rinker continues to deliver the consistent performance improvement and growth that we have produced over the past several years.”
Will Glusac, formerly running the South Central aggregates and concrete operations in Tennessee and Kentucky, has been appointed president of Florida Materials.
Rinker’s Loven it
Rinker Materials recently bought another premix concrete business, Loven Inc, comprising six concrete plants in northeast Tennessee and Virginia.
Loven will be a bolt-on acquisition to the South Central Division located in Tennessee, which Rinker Materials purchased in 2000. Existing Rinker Materials quarries in Tennessee will supply part of Loven’s aggregate requirements. Loven operates concrete plants in Greenville, Morristown, Newport, Kingsport, Johnson City - all in Tennessee - and Bristol, Virginia. It is a leading concrete supplier in most of its markets.
Rinker Materials has also reached agreement for a long term lease on a hard rock quarry at Locus Mount, near Johnson City, Tennessee. “The new quarry, together with the acquisition of Loven, will enable us to better service our Tri-Cities customers with aggregate and pre-mix concrete,” says Rinker Group chief executive officer David Clarke.
