CalPortland, Martin Marietta Ink Cement Plant Deal

Martin Marietta Materials has entered into a definitive agreement to sell its Tehachapi, Calif. cement plant and related distribution terminals to CalPortland for $350 million in cash.

The deal is expected to close in the first half of 2023, subject to regulatory approvals and other customary closing conditions.

CalPortland recently acquired a Redding, Calif. cement mill, plus integrated terminals and 14 ready mixed concrete plants from Martin Marietta for $250 million in cash. 

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