PRINCETON, W.Va. – A Princeton company that closed its doors in March has been purchased and will relaunch operations next month.
Eastern Vault Company, a concrete manufacturer, closed suddenly on March 10, with about 75 employees losing their jobs, not being told the reasons for closing. But now, some of those jobs will return.
Earlier today, Wright Block & Precast, a Pikeville, Ky. Company, announced it has purchased the assets of Eastern Vault.
Operations at Eastern Vault will resume Nov. 15 and the company anticipates 28 more jobs by the third quarter of 2025.
Princeton City Manager Mike Webb released a statement on the acquisition.
“We are always excited to see new businesses come into the Princeton area. It will be a great boom for jobs in our region and will help a lot of families that are in need of good paying wages. Economic development continues to grow and expand in and around Princeton,” Webb said.
“This is a significant milestone for our company. The addition of this facility gives us a stronger foothold in central Appalachia, allowing us to better serve our customers in the mining and construction sectors. With this expansion, we can continue delivering the high-quality products that our customers rely on, with the efficiency and speed they’ve come to expect from us,” said Shannon Wright, President and CEO of Wright Block & Precast, which produces and supplies block, brick, manufactured stone and precast concrete in the central Appalachian region.
Wright said the Princeton location will become the newest block and precast production facility under the Wright Block & Precast brand, joining existing operations in Pikeville, KY, Allen, KY, and Madisonville, KY.
Kendall Wright, Vice-President and COO of Wright Block & Precast, said the company is excited to bring this business back to Princeton. “It’s a beautiful town with a strong sense of community, and we’re eager to contribute to its growth. This acquisition is a major step forward for our family of companies, and we’re looking forward to a bright future ahead.”
The company also acquired the assets of American Block, also located in Princeton.
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