CRH Agrees $2.1B Acquisition in Texas from Martin Marietta Materials
Portfolio Pulse from Benzinga Newsdesk
CRH plc has agreed to acquire a portfolio of cement and readymixed concrete assets in Texas from Martin Marietta Materials, Inc. for $2.1 billion. The assets include a cement plant with a 2.1mt capacity and 20 readymixed concrete plants, expected to generate $170 million in EBITDA for 2023.
November 21, 2023 | 7:11 am
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Martin Marietta Materials, Inc. has sold a portfolio of cement and readymixed concrete assets in Texas to CRH plc for $2.1 billion, which may impact its operational footprint and financials.
The sale of assets by Martin Marietta Materials, Inc. to CRH plc for $2.1 billion is a significant transaction that will affect the company's operational structure and could lead to a reallocation of capital or debt reduction. However, without further details on how the proceeds will be used or the impact on Martin Marietta's overall business strategy, the short-term impact on the stock price is uncertain.
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