Martin Marietta completes DOJ-mandated asset sales
Published by Jonathan Rowland,
Editor
World Cement,
Martin Marietta has completed the sale of two assets, as required by the US Department of Justice (DOJ) to resolve competition issues related to the acquisition of Bluegrass Materials Co. The company divested two quarries – one in Georgia and the other in Maryland.
The sale of Martin Marrietta’s Forsyth aggregates quarry, north of Atlanta, Georgia, completed on 27 April, while the sale of Bluegrass’ Beaver Creek aggregates quarry in western Maryland completed on 5 June. Both were cash acquisitions.
The buyers of the assets were not identified, although a DOJ press release named Midsouth Paving Inc., a subsidiary of CRH Americas Materials, as a potential buyer of the Forsyth quarry.
“We are pleased to conclude the DOJ’s Hart-Scott-Rodino process related to our acquisitions of Bluegrass Materials,” said Ward Nye, President and CEO of Martin Marietta.
The company announced that it had acquired the Mallard Sand & Gravel business from CRH. CRH was required to divest the assets under its agreement with the Federal Trade Commission as part of its acquisition of Ash Grove Cement Co. The acquisition includes a sand and gravel operation and a permitted greenfield site.
“We are delighted to augment our Midwest business with the addition of Mallard Sand & Gravel and to welcome those employees to our company,” concluded Nye.
Read the article online at: https://www.worldcement.com/the-americas/03072018/martin-marietta-completes-doj-mandated-asset-sales/
You might also like
World Cement Podcast
In the latest episode of the World Cement Podcast, Senior Editor David Bizley is joined by Dr Andrew Minson of the GCCA to discuss the ins and outs of the recently launched Low Carbon Ratings (LCR) system.
Queens Carbon secures US$10M in seed funding for low carbon cement
Backed by Clean Energy Ventures and Buzzi Unicem USA, Queens Carbon will leverage funding to scale its energy-efficient cement production platform.
