Displaying items by tag: Martin Marietta Materials

US: Martin Marietta Materials has signed a deal to buy 20 aggregates operations in the Southeast US from Blue Water Industries for US$2.05bn. Reuters has reported that the partners expect to close the deal later in 2024. Martin Marietta Materials says that the acquisitions will help it to meet rising national demand for building materials. The North Carolina-based group operates aggregates sites in 28 US states, Canada and the Bahamas.

Martin Marietta Materials previously indicated that recent divestitures in its ready-mix concrete business and other areas would help it to ‘redeploy the proceeds into pure-play aggregates acquisitions.’

US: CRH has completed its acquisition of a portfolio of ready-mix concrete and cement assets from Martin Marietta Materials for US$2.1bn. The portfolio includes a network of 20 ready-mix concrete plants in South Texas.

US: Ireland-based CRH has concluded a deal for the acquisition of Martin Marietta Materials’ South Texas business. This includes 20 ready-mix concrete batching plants, alongside the Hunter cement plant and a network of cement terminals on the Gulf of Mexico. The value of the transaction is US$2.1bn.

CRH CEO Albert Manifold said “The acquisition of these high-quality assets further strengthens our market leading position in Texas and increases our exposure to attractive, high-growth markets. Our ability to leverage our cement expertise and technical capabilities will enable us to enhance and optimise our existing footprint in Texas, resulting in significant synergies and self-supply opportunities. This transaction reflects our disciplined approach to capital allocation as well as our commitment to deliver further growth and value creation for our shareholders. We also believe there is significant potential to unlock additional growth opportunities across an expanded footprint in this attractive growth market.”