Texas Industries has reportedly agreed to a merger with Martin Marietta Materials Inc., the second largest producer of aggregates in the US. Though neither company has commented on the details or publicly announced the acquisition, Bloomberg is reporting that an announcement is imminent.
Texas Industries Inc. (TXI) is the largest cement producer in Texas and the second biggest in California and has a value of around US$2 billion. Martin Marietta Materials, valued at around US$4.8 billion, is based in Raleigh, North Carolina and produces crushed stone, gravel and sand. This acquisition would bring the company into the cement market, giving the benefit of a vertically integrated business at a time when the US construction market is recovering from a prolonged period of recession. Martin Marietta also has interests in concrete and asphalt operations.
World Cement will bring all the details of the acquisition once it has been officially announced.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/the-americas/28012014/martin_marietta_in_talks_to_acquire_txi_656/