The board of directors of Clyde Companies Inc. has announced that the stockholders of W.W. Clyde & Co., Geneva Rock Products Co., J & J Building Supply, Utah Service Inc. and Beehive Insurance Agency have voted to merge their companies with Clyde Companies Inc.
Under the merger agreement, Clyde Companies Inc., a locally owned and controlled holding company, will acquire the stock of each of the separate companies and operate them as wholly owned subsidiaries. With the merger it will become one of the dominate providers of construction services in the Intermountain area.Richard C. Clyde, president of W.W. Clyde & Co., will assume the role of president and chief executive officer of Clyde Companies Inc., and Wilford W. Clyde II, president of Geneva Rock Products Co., will be the new vice president and chief operations officer. Carol Salisbury is the new secretary, and Don McGee, assistant secretary/treasurer.
Paul B. Clyde will become the new president of W.W. Clyde & Co., with David Hales and Jeff Clyde as new vice presidents. Keith Nelson will remain as secretary/treasurer.
Clyde Companies Inc. will establish its executive offices in Orem.