Ashland’s APAC unit sells J.B. Coxwell Contracting, Inc.

12-Oct-2000

Atlanta, Ga. -- APAC, Inc., a wholly owned division of Ashland Inc. (NYSE:ASH) announced today the sale of assets relating to its site preparation and utilities operations in Jacksonville, Fla. to J.B. Coxwell Contracting of Jacksonville, Fla. The announcement was made by Charles F. Potts, president, APAC, Inc. The sale price was not disclosed.

The buyer is comprised of a group led by J.D. Coxwell, son of founder J.B. Coxwell, who began operations of J.B. Coxwell Contracting, Inc. in 1983.

"The sale of this business unit is in accordance with our strategic plan to sell part of the operations obtained in the Superfos acquisition, which concluded in Oct. 1999," said Charles F. Potts, president, APAC, Inc. "In this particular part of Florida, we want to focus our attention on asphalt related operations," he concluded.

Coxwell is expected to employ approximately 250 workers, performing heavy construction, including roadways, underground utility work, concrete work, and total site preparation for both public and private entities.

For its part, APAC will continue to employ approximately 50 workers in its Jacksonville Division of APAC-Florida, Inc. These workers will continue to perform asphalt related activities, including the manufacture and placement of asphalt for public and private projects.

APAC, Inc.’s group of construction companies is the nation’s leading provider of services for publicly funded highway construction. Operating in 14 southern and midwestern states, APAC companies are major suppliers of hot-mix asphalt, ready-mix concrete, construction aggregates, and specialized construction materials. Based in Atlanta, Ga., APAC is a wholly owned unit of Ashland Inc.

https://www.chemeurope.com/en/news/180/ashlands-apac-unit-sells-j-b-coxwell-contracting-inc.html