Martin Marietta completes DOJ-mandated asset sales
Published by Jonathan Rowland,
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/
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