U.S. Concrete Completes Reorganization
- Published: Wednesday, 01 September 2010 08:00
- Written by CP Staff
A U.S. Bankruptcy Court's granting of a request to confirm a Plan of Organization, converting $285 million in senior notes to equity shares, enabled Houston-based U.S. Concrete to emerge from Chapter 11 proceedings late last month. CEO Michael Harlan credited the plan's expedited confirmation to customers, vendors, banks, employees and advisors, calling the ruling a significant milestone in our restructuring process÷With a healthier balance sheet, we can renew our focus on managing our business and servicing customers.