Granite Construction Subsidiary Acquires Cinderlite Trucking to Bolster Nevada Operations, Material Reserves

Granite Construction Incorporated (NYSE:GVA) is one of the best infrastructure stocks to buy with huge upside. On October 6, Granite announced that its subsidiary, Centennial Aggregate Inc., had completed the acquisition of Cinderlite Trucking Corporation. Cinderlite is a prominent construction material, landscape supply, and transportation company based in Carson City, Nevada.

The acquisition is aligned with Granite’s home market strategy in the active northern Nevada construction landscape and is complementary to Granite’s existing operations in the region.

The acquisition of Cinderlite significantly strengthens Granite’s vertically integrated home market position. The transaction adds substantial material reserves to Granite, including ~100 million tons of aggregate resources and an annual production volume of ~975,000 tons.

Granite Construction Incorporated (NYSE:GVA) operates as an infrastructure contractor in the US. It has two segments: Construction and Materials.

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Disclosure: None. This article is originally published at Insider Monkey.