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.
