IRVING, Texas, July 01, 2021 (GLOBE NEWSWIRE) – Forterra, Inc. (“Forterra” or “the Company”) (Nasdaq: FRTA), a leading manufacturer of water and drainage infrastructure pipes and precast products in the United States and Eastern Canada, today announced the acquisition of the business of Barbour Concrete Company & Barbour Building Systems (“Barbour”), a manufacturer of precast concrete products used in drainage, stormwater, utilities and other infrastructure applications.
Based in Independence, Missouri, Barbour primarily serves the greater Kansas City metropolitan area. For the past 75 years, Barbour has provided high quality products and services to meet customer needs, while serving as a leader within the National Precast Concrete Association. Forterra plans to continue operating as Barbour Concrete & Barbour Building Systems for the foreseeable future and believes this acquisition will provide access to new growth opportunities in Kansas City’s strong and expanding residential infrastructure and markets. .
“We expect Barbour to accelerate Forterra’s growth in the precast concrete markets and strengthen our position in the growing Kansas City region. This will position us well to continue to develop our business in the surrounding region, particularly in the Greater Omaha market, ”said Karl Watson, CEO of Forterra.
“The acquisition of Barbour will benefit our clients as we will provide them with an extensive product line and access to technical expertise that will help them create tailor-made solutions. We are delighted to welcome Barbour to the Forterra team and, given our shared commitment to quality and customer service and strong relationships, we expect a seamless integration, ”said Jason Duncan, vice president of the western region of Forterra.
“After 75 years and four generations of innovation, achievement and leadership in the precast industry, Jim Barbour’s vision, through his estate plan, was to solidify our future through this acquisition by Forterra. With this life-changing event, we are grateful and excited to be able to provide new opportunities for our employees, who are our most valuable assets, and expanded resources for manufacturing and serving our customers, ”said Dan Barbour and Amy Burnett on behalf of the Barbour family.
Forterra, Inc. is a leading manufacturer of pipe and water and drainage products in the United States and Eastern Canada for a variety of water-related infrastructure applications, including transmission, distribution, drainage and storm water systems. Based in Irving, TX, Forterra’s breadth and scale of products make it a preferred supplier of pipe and water related products, serving a wide variety of customers including contractors, distributors and municipalities. . For more information on Forterra, visit forterrabp.com.
About Barbour Béton
Based in Independence, Missouri, Barbour manufactures and offers precast concrete products used in stormwater, sanitary, utility and custom applications. For more information on Barbour, visit barbourconcrete.com.
Executive Vice President, Chief Financial Officer
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook” and “project” and other similar expressions. that predict or indicate future events or trends or that are not statements of historical fact. Forward-looking statements should not be interpreted as a guarantee of future performance or results and will not necessarily be precise indications of when or by which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management’s reasonable belief or expectations regarding future events, and are subject to risks and uncertainties, many of which are independent of the will of the Company, which could cause actual performance or results to differ materially from the belief or expectations expressed or suggested by forward-looking statements.
Some of the risks and uncertainties that could cause actual results to differ materially from those expressed in forward-looking statements include risks and uncertainties relating to the ongoing acquisition by Quikrete Holdings, Inc .; the impacts of the COVID-19 pandemic; the level of construction activity, particularly in the residential and non-residential construction markets; public financing of infrastructure and related construction activities; the highly competitive nature of our industry and our ability to compete effectively; the availability and price of the raw materials we use in our business; the ability to implement our growth strategy; our dependence on key customers and the lack of long-term agreements with these customers; the level of construction activity in Texas; energy costs; disruption in one or more of our manufacturing facilities or in our supply chain; delays in construction projects and our inventory management; our ability to successfully integrate acquisitions; work interruptions and other trade union activities; tighter mortgage or mortgage financing requirements; compliance with environmental laws and regulations; compliance with health and safety laws and regulations and other laws and regulations to which we and our products are subject; our dependence on key management and senior management; our ability, or that of the clients we work with, to retain and attract additional qualified and unqualified technical or sales personnel; the credit and non-payment risks of our customers; warranty and related claims; legal and regulatory claims; the seasonality of our activity and its sensitivity to bad weather; our order book; our ability to maintain sufficient liquidity and to ensure adequate financing or guarantees for major projects; delays or failures in our computer systems and computer networks; security breaches in our computer systems and other cybersecurity incidents and additional factors discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and quarterly reports on Form 10-Q, for additional information regarding the risks and uncertainties that could cause actual results to differ materially from those expressed in any forward-looking statement.