Martin Marietta Completes Divestiture of Colorado and Central Texas Ready Mixed Concrete Operations
RALEIGH, N.C., April 01, 2022 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM) (“Martin Marietta” or the “Company”) today announced that it has completed the previously-announced divestiture of its Colorado and Central Texas ready mixed concrete operations to Smyrna Ready Mix Concrete LLC.
Ward Nye, Chairman, President and CEO of Martin Marietta, stated, “We are grateful to the skilled workforce at these operations for their contributions to Martin Marietta. As previously indicated, the sale of these downstream assets is consistent with our strategic plan, and we expect the proceeds to be used in a manner that is aligned with our clearly articulated capital allocation priorities that will put us in a position to continue to deliver both near- and long-term enhanced shareholder value.”
About Martin Marietta
Martin Marietta, a member of the S&P 500 Index, is an American-based company and a leading supplier of building materials, including aggregates, cement, ready mixed concrete and asphalt. Through a network of operations spanning 28 states, Canada and The Bahamas, dedicated Martin Marietta teams supply the resources for building the solid foundations on which our communities thrive. Martin Marietta’s Magnesia Specialties business produces high-purity magnesia and dolomitic lime products used worldwide in environmental, industrial, agricultural and specialty applications. For more information, visit www.martinmarietta.com or www.magnesiaspecialties.com.
Vice President, Investor Relations