US Concrete has plans in place for the relocation of its headquarters. The headquarters are currently in Houston and the plans will move the facility to Euless. It will also make the headquarters a dual location, as the regional headquarters for Redi-Mix Inc will be a part of the new facility. Redi-Mix is an affiliate company. The concept is to save more money by having just one space rather than two different headquarters. It will offer savings in the future along with better operating efficiencies.
US Concrete has 46 employees in the Houston office. Most of them have been offered relocation to the new office. There will be separation benefits for those who decide not to move. The entire move is supposed to be completed by July 1st 2012. It also means that many of the employees will need to make a decision as to whether they will move or not in the next few weeks. The company wants to have a complete and smooth transition when creating the one headquarters for the affiliated company and US Concrete.
Company relocation is not common in the last five years with the struggling economy. The fact that US Concrete is willing to offer packages for relocation or separation is a good thing for those employees. The benefits package for relocation has not been released, so there has been no disclosure with regards to any value loss on a home sale. US Concrete may release this information at a later date.