Amboy Aggregates Sells NYSS
Amboy Aggregates, a joint venture between Great Lakes Dredge and Dock Company, LLC (Great Lakes LLC) and Ralph Clayton and Sons Materials, L.P., has divested its wholly-owned subsidiary, New York Sand and Stone, LLC (NYSS), to Eastern Concrete Materials, Inc.
Great Lakes LLC is a wholly owned subsidiary of Great Lakes Dredge & Dock Corporation (GLDD) that has a 50% interest in Amboy Aggregates, a sand dredging operation in New Jersey that distributes the dredged sand and other aggregates for use in road and building construction and for clean land fill.
Located in Brooklyn, NYSS is a major supplier of crushed stone, sand and gravel to the construction industry in the New York metropolitan area.
Amboy Aggregates President Richard Rosamilia commented, “We are pleased to announce the sale of New York Sand & Stone and believe that its new owner, Eastern Concrete Materials, is a good fit for the company as it continues to serve the New York metropolitan market.”
Jonathan Berger, Great Lakes Chief Executive Officer stated, “The sale of New York Sand & Stone marks another step in our strategy to divest non-core assets and focus on our core dredging and environmental services markets. We wish the best of luck to all parties involved in the transaction.”
The sale includes the assignment of leases to operate two existing aggregate distribution terminals on the East River in Brooklyn, N.Y.