Martin Marietta Penned A Deal With CRH To Sell Its South Texas Cement Business And Certain Of Its Related Concrete Operations For $2.1B In Cash
Portfolio Pulse from Benzinga Newsdesk
Martin Marietta has agreed to sell its South Texas Cement business and some related concrete operations to CRH for $2.1 billion in cash.
November 21, 2023 | 8:18 am
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Martin Marietta's sale of its South Texas Cement business to CRH for $2.1 billion in cash could lead to a more focused business strategy and potential reinvestment in core areas.
The sale of a significant business unit like the South Texas Cement business for a substantial cash amount is likely to be viewed positively by investors. It could improve Martin Marietta's balance sheet and allow for reinvestment or return of capital to shareholders. The strategic divestiture may also help the company to streamline operations and concentrate on more profitable or core business segments.
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IMPORTANCE 80
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