Martin Marietta Materials Inc. has entered into a definitive agreement with Quikrete Holdings Inc. for the exchange of certain assets. Under the terms of the agreement, Martin Marietta will receive aggregates operations producing approximately 20 million tons annually in Virginia, Missouri, Kansas, and Vancouver, British Columbia, Canada, as well as $450 million of cash.
Read MoreThe U.S. Geological Survey reported that the estimated U.S. output of construction aggregates produced and shipped for consumption in the first quarter of 2024 was 455 million metric tons (Mt), a decrease of 3.9% compared with that of the same period of 2023. Major companies reported significant decreases in construction aggregates shipments due to poor weather conditions (Martin Marietta Materials,…
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Martin Marietta Materials has entered a definitive agreement to sell its Tehachapi, Calif., cement plant to Unacem Corp., Peru-based parent company of Arizona’s Drake Cement. The transaction follows an abandoned deal between Martin Marietta and CalPortland earlier this year.
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Martin Marietta Materials reported results for the second quarter ended June 30, including quarterly records for revenues, profitability and unit margins. The company achieved gross profit of $1.821 billion versus $1.642 billion in the second quarter of 2022.
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Publicly traded U.S. cement producers just reported results, and those results are a mixed bag. At Summit Materials, Cement Segment net revenues increased 23.6% to $97.9 million in the fourth quarter of 2022. Cement Segment adjusted cash gross profit margin increased to 47.1% in the fourth quarter, compared to 42.7% in the prior-year period as strong pricing gains more than…
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