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Financial strategy and capital allocation.
This isn t the first optimization for HeidelbergCement. In early May, the company sold its Greek aggregate business and two ready-mixed concrete plans to the Swiss LafargeHolcim group. The sale price was not disclosed.
Furthering the news, Chris Ward, President & CEO of Lehigh Hanson, Inc. reiterated Heidelberg Cement’s high commitment for future growth in North America by saying: “We will accelerate the build-out of our positions in the four key regions Canada, Midwest, Northeast, and South through selected bolt-on acquitisions and capacity expansion projects in the future.”
The transaction comprises the sale of Lehigh Hanson’s business activities in cement, aggregates, ready-mixed concrete, and asphalt in the states of California, Arizona, Oregon, and Nevada. The Permanente cement plant and quarry is the only exception. The sale includes two cement production plants with related distribution terminals, 17 active aggregates sit
The Company has posted supplemental information related to the transaction on the
About Martin Marietta
Martin Marietta, a member of the S&P 500 Index, is an American-based company and a leading supplier of building materials, including aggregates, cement, ready mixed concrete and asphalt. Through a network of operations spanning 26 states, Canada and The Bahamas, dedicated Martin Marietta teams supply the resources for building the solid foundations on which our communities thrive. Martin Marietta s Magnesia Specialties business produces high-purity magnesia and dolomitic lime products used worldwide in environmental, industrial, agricultural and specialty applications. For more information, visit www.martinmarietta.com or www.magnesiaspecialties.com.