Taiheiyo Cement, which owns CalPortland, has announced the purchase of California cement business assets from Martin Marietta Materials Inc. The acquisition requires clearance by the relevant authorities, but is expected to be finalised within Taiheiyo Cement’s 2Q15. The purchase includes the Oro Grande plant and the Stockton and San Diego cement terminals.
Naming the reasons for the acquisition, Taiheiyo Cement described its plan to enhance its presence in the Pacific Rim by attaining sufficient business scale (cement capacity) and increasing foreign trade. The acquisition of Martin Marietta’s Oro Grande plant will replace the lost cement production from the Colton plant and increases supply to the California, Arizona and Nevada region. The Oro Grande plant is located near the major market of Los Angeles.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/the-americas/06082015/calportland-to-purchase-martin-marietta-oro-grande-plant-282/