TITLE

Claims of $18.8 Million Keep Meadow Valley in Courthouses

AUTHOR(S)

Illia, Tony; Korman, Richard

PUB. DATE

March 2005

SOURCE

ENR: Engineering News-Record;3/7/2005, Vol. 254 Issue 9, p16

SOURCE TYPE

Trade Publication

DOC. TYPE

Article

ABSTRACT

This article reports that Meadow Valley Corp. prepares to test the market for shares of its valuable ready-mix concrete unit, the contracting and materials firm hopes to continue to tap another source of revenue. As of September 2004, it had $18.8 million in claims pending against public agencies, according to company filings with the U.S. Securities and Exchange Commission. Meadow Valley's portion of those claims is $10.5 million, with the remaining amounts due to prime contractors or subcontractors. The planned spin-off of 40% of its concrete subsidiary, Ready Mix Inc., would bring in another $12 million to the Phoenix, Arizona-based contractor.

ACCESSION #

16374278

 

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