Ceramic Industry News

Martin Marietta to Purchase Remaining Interests of Meridian

December 4, 2000
/ Print / Reprints /
ShareMore
/ Text Size+
Martin Marietta Materials, Inc. will purchase the remaining interests of Meridian Aggregates Co. under the purchase option terms of the original October 1998 investment agreement. The purchase, which is structured as an asset transaction and is expected to be completed in late 2000 or early 2001, will give Materials 100% ownership of Meridian.

The estimated $235 million purchase price, which is subject to actual results and certain other adjustments, includes the original October 1998 investment of $42 million. It is expected that the Meridian purchase will be neutral to slightly accretive to 2001 earnings. Commenting on the transaction, Stephen P. Zelnak, Jr., chairman and chief executive officer, said, “Meridian is a key element of our expansion strategy. It will strengthen and expand our position in the southwest and central United States and will provide entry into markets in the west. We have had an excellent relationship with the Meridian management team since making our initial investment and are looking forward to incorporating these operations as a significant element of our aggregates business.”

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

June 2014 Issue Highlights

Our June 2014 issue is now available!

Podcasts

Manufacturing Day 2014

Manufacturing Day organizers share their insights with Managing Editor Kelsey Seidler.

More Podcasts

Ceramic Industry Magazine

CI September 2014 cover

2014 September

You won't want to miss the CI Top 10, traditionally our most popular article of the year!

Table Of Contents Subscribe

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px