Martin Marietta Announces Acquisitions In Texas And Ohio
March 20, 2001
Martin Marietta Materials, Inc. recently announced the purchase of the Brauntex Materials, Inc.'s, limestone facility located at the Chemical Lime quarry in New Braunfels, Texas. The acquisition includes a crushed limestone operation with annual capacity in excess of 750,000 tons. Brauntex has mined non-chemical grade ore from the Chemical Lime quarry for over 20 years. As part of the purchase, Brauntex has entered into an agreement for Martin Marietta to supply up to 500,000 tons of crushed stone per year for use in the local area. The transaction was an asset purchase for cash. The purchase price was not disclosed. Martin Marietta also purchased the assets of Powell Gravel and Topsoil, Inc., located in Cincinnati, Ohio. The Powell operation consists of a single plant with production of about one million tons annually, a substantial topsoil business and a trucking business. Mineral reserves exceed 35 million tons. The asset purchase was for cash and Martin Marietta common stock. The transaction price was not announced.
For additional information, call (919) 783-4658 or visit http://www.martinmarietta.com.