Martin Marietta Completes Acquisition of Aggregates Operations From Affiliates of Blue Water Industries LLC and Announces First-Quarter 2024 Earnings Conference Call
Martin Marietta Materials, Inc. (MLM)
Last martin marietta materials, inc. earnings: 2/11 06:57 am
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Source: GlobeNewswire
RALEIGH, N.C., April 08, 2024 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM) (Martin Marietta or the Company) today announced that, on April 5, 2024, it completed its previously announced acquisition of 20 active aggregates operations in Alabama, South Carolina, South Florida, Tennessee, and Virginia from affiliates of Blue Water Industries LLC (BWI Southeast) for $2.05 billion in cash. This portfolio optimizing transaction improves the Company’s product mix, margin profile and durability through economic cycles by adding another pure aggregates business to its already aggregates-led portfolio. Ward Nye, Chairman, President and CEO of Martin Marietta stated, “The BWI Southeast acquisition naturally complements Martin Marietta’s existing geographic footprint in the dynamic southeast region by allowing us to expand into new growth platforms in SOAR-specific target markets including Nashville and Miami. Combined with the recent acquisition of Albert Frei & Sons, Inc.
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