Martin Marietta completes merger divestments
19 August 2014
Martin Marietta Materials has sold a quarry in Oklahoma, US and two rail yards in Dallas, US to Vulcan Materials. The divestment was a condition from the US Department of Justice to allow Martin Marietta’s acquisition of Texas Industries, which closed on July 1.
Vulcan Materials CEO Tom Hill said, "Texas is a strategic market for us. This acquisition provides an important complement to our other aggregates sources and distribution facilities across the state. These facilities enhance our aggregates supply capabilities in Texas and provide additional opportunities to better serve our customers."
The value of the transaction was not disclosed.
The all-share merger between Martin Marietta and Texas Industries created a US$ 2.3 billion per year aggregates and cement company, with a footprint in 36 US states, Canada, and the Caribbean.
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