Boxley Signs Letter of Intent to Purchase Lynchburg Asphalt Paving Company

ROANOKE, VA- November 9, 2010-Boxley, a leading source of quality construction materials, has signed a letter of intent to purchase the assets of Marvin V. Templeton & Sons, Inc., a Lynchburg-based asphalt paving company.

Longtime Marvin V. Templeton & Sons executive, Jeb Burton, will remain as president of the company for Boxley. The deal includes the purchase of their subsidiary May Bros. General Contractors.

"Adding asphalt to Boxley's business mix is a logical step in our goal to provide the highest quality construction materials and service to our customers," said Ab Boxley, president. "Templeton is a highly regarded company with the same core business beliefs and dedication to quality and customer service that make this acquisition a great fit."

The transaction is expected to close by December 31, 2010. As both companies are privately held, the terms of the acquisition are not being disclosed.

Earlier this year, Boxley acquired its first asphalt paving company, Sawyer Paving and its affiliate Valley Curb and Gutter, located in Salem, VA.

About Boxley

Since 1892, Boxley has supplied quality construction materials to communities in central and western Virginia and West Virginia. Boxley produces aggregate, asphalt, block, and concrete that are essential in the construction of homes, schools, hospitals, buildings, and landscaping as well as the maintenance and construction of roads and bridges. Boxley is actively involved in the communities it serves through programs such as Boxley Explore the Earth for students and Boxley Community Giving. For additional information, visit boxley.com.