Four Corners Materials acquires paving company
FARMINGTON — Four Corners Materials has purchased Consolidated Constructors and will start managing the Farmington-based business next week.
Four Corners Materials was formed in 1997 as a division of Oldcastle Materials and operates sand and gravel producers in Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah and Wyoming, according to its website.
Since its start, Four Corners Materials, which already had a Farmington location on the Bisti Highway, has purchased multiple construction and paving services throughout northwest New Mexico and southwest Colorado.
Maria Carabasi, communications manager at Oldcastle Materials, said Four Corners Materials is acquiring Consolidated Constructors, as well as four aggregate sites — one asphalt plant, one ready-mix plant and associated construction operations.
"By acquiring these assets, Four Corners will improve operating synergies for its existing business in Farmington," Carabasi said today.
Consolidated Constructors President Joe Kozimor declined to comment about the sale today.
A sign posted at the company's office notified visitors the business will be closed Saturday and will reopen Monday under new management.
Sources familiar with the transition said the acquisition resulted in a reduction in employees, and termination notices were distributed 10 days ago with today listed as the last day of employment.
Carabasi did not confirm the number of layoffs but said the acquisition did result in some duplication in positions between the two businesses, and the majority of employees associated with the purchased assets were retained.
She said over the years, Four Corners Materials has purchased companies throughout the western United States to increase its diverse mix of product lines, and it is the largest producer of sand and gravel products in the region.
Noel Lyn Smith covers the Navajo Nation for The Daily Times. She can be reached at 505-564-4636.