Draft:Cardi Corporation
Submission declined on 19 July 2024 by Broccoli and Coffee (talk).
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|  |
| Company type | Private |
|---|---|
| Industry | Construction, Concrete, Pavement |
| Predecessor | Campanella and Cardi |
| Founded | 1967 |
| Founder | |
| Defunct | 2023 |
| Fate | Bankrupt, Assets acquired by J.R. Vinagro |
| Headquarters | Warwick, Rhode Island |
| Divisions | Heavy Highway & Bridge, Concrete, Asphalt/Paving, Sand & Stone, Utility Construction, Sitework & Excavation |
| Subsidiaries | Fall River Ready Mix Concrete |
Cardi Corporation was a Rhode Island based company specializing in heavy construction and construction materials. Founded in 1967 by brothers Antonio B. “Tony” Cardi and Stephen A. Cardi, Sr, the company was considered to be one the most notable construction firms in Rhode Island.
Cardi began winding down operations in December 2023 after 57 years in business.[1]
History
[edit]Antonio B. Cardi began the Cardi family legacy in construction in 1905 with the purchase of a pair of horses and a bottom dump wagon. In 1926, Antonio's son Americo “Rico” Cardi joined the company and eventually took over in 1933. Americo went into business with a partner in 1938 to form Campanella & Cardi.
In 1967, Americo's sons Antonio B. Cardi and Stephen A. Cardi, Sr left Campanella & Cardi to form Cardi Corporation.[2]
Bankruptcy
[edit]Cardi Corporation acknowledged that it was facing financial difficulties in March 2023. Despite this, the company had stated that it planned to finish all its projects.[3] On October 27, 2023, work had stopped on its $139-million Taunton MA highway interchange improvement project.[4] By December of 2023, Cardi announced it would be closing down operations[5]. Work was reassigned to other contractors by the Bonding company. J.R Vinagro of Johnston Rhode Island acquired Cardi's assets such as a Warwick concrete and asphalt plant, West Greenwich quarry, and heavy equipment.[6]
References
[edit]- ^ NEWS, BRIAN CRANDALL, NBC 10 (2023-12-13). "NBC 10 I-Team: Cardi Corporation will shut down". WJAR. Retrieved 2024-03-28.
{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link) - ^ "Our History · Cardi Construction Industries". 2023-08-04. Archived from the original on 2023-08-04. Retrieved 2024-03-28.
- ^ NEWS, GENE VALICENTI, NBC 10 (2023-03-09). "Only on 10: Cardi Corporation acknowledges financial difficulties". WJAR. Retrieved 2024-03-28.
{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link) - ^ "Cardi Stops Work on Its $116.5M MassDOT Highway Contract | Engineering News-Record". www.enr.com. Retrieved 2024-12-19.
- ^ Staff, P. B. N. (2023-12-14). "Road, bridge contractor Cardi Corp. going out of business". Providence Business News. Retrieved 2024-12-19.
- ^ NEWS, BRIAN CRANDALL, NBC 10 (2024-01-12). "NBC 10 I-Team: Highway contractor Cardi Corporation assets sold". WJAR. Retrieved 2024-03-28.
{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)
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