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Benzinga
Benzinga
Business
Akanksha Bakshi

Martin Marietta To Sell Certain West Coast Cement, Ready Mixed Concrete Operations For $250M Cash

West Coast MLM California NYSE Redding
  • Martin Marietta Materials, Inc. (NYSE:MLM) has agreed to sell certain West Coast cement and ready mixed concrete operations to CalPortland Company for $250 million in cash.
  • The operations include the Redding cement plant, related cement distribution terminals, and 14 ready-mixed concrete plants in California.
  • The transaction is expected to close in the second half of 2022.
  • The parties also entered into preferred arrangements regarding the potential sale of the company's Tehachapi cement plant and related cement distribution terminals.
  • Price Action: MLM shares closed lower by 1.48% at $379.40 on Monday.
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