The acquisition includes a rail-served industrial site in Ardmore, Oklahoma, which Overland Corporation—a subsidiary of CPI—will now manage. In addition to the real estate, the transaction brings a specialized fleet of trucks and trailers under the CPI umbrella, bolstering the company's ability to transport raw materials across the region.
Fred J. Smith, III, president and CEO of CPI, noted that the move is designed to strengthen vertical integration and secure a reliable supply of asphalt. The Ardmore site is slated for transformation into a full-scale liquid asphalt terminal, a project intended to increase sourcing flexibility and support ongoing growth in local road and infrastructure markets.
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