Chattanooga precast concrete plant part of acquisition

Texas-based Forterra buys Nashville-based Sherman-Dixie

Sherman-Dixie
Sherman-Dixie

Nashville-based Sherman-Dixie Concrete Industries, a maker of precast concrete construction materials with a plant in Chattanooga, announced Tuesday that it has been acquired by Irving, Texas-based Forterra Building Products.

Forterra company officials said the 20 jobs at Sherman-Dixie's Chattanooga plant, and the plant itself, will not be affected by the acquisition. Sherman-Dixie will continue operating all of its current facilities, and will change over to the Forterra name sometime early this year.

Sherman-Dixie operates eight facilities in Tennessee, Kentucky, Alabama and Indiana. There are four Sherman-Dixie facilities in Tennessee alone, operating in Chattanooga, Hermitage, Franklin and Lenoir City.

Forterra is a multinational firm with operations in the United States, Canada and the United Kingdom. Forterra employs more than 5,400 people at 118 facilities.

Forterra officials praised Sherman-Dixie in a release on Tuesday.

"Sherman-Dixie is a positive and complementary addition to the Forterra team," said Jeff Bradley, CEO at Forterra Building Products. "As the leading manufacturer of concrete pipe and precast products in the U.S., we are confident that Sherman-Dixie's market leadership, strong customer relationships and high-quality suite of precast concrete solutions will extend our track record of market excellence."

Terms of the acquisition were not disclosed.

Sherman-Dixie officials said that throughout the company's 65-year history, it has always sought to adapt to the industry and changing economy.

"As needs for quality infrastructure expand, joining forces with Forterra represents a significant growth opportunity for us," said Pete DeLay, president and CEO at Sherman-Dixie. "Our companies share deep respect for each other based on our common values of safety, quality and service, as well as a strong commitment to our employees. As part of a larger company, today's announcement positions us for long-term industry leadership, future growth, and success for the benefit of our customers and employees."

Contact staff writer Alex Green at agreen@timesfreepress.com or 423-757-6480.

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