Martin Marietta, Lafarge in Asset Swap
- Published: Tuesday, 18 October 2011 16:05
An asset swap with Lafarge North America will net Martin Marietta a major metro-Denver presence, including 10 ready mixed and six aggregate operations, plus nine asphalt production or road-building office/equipment sites.
The properties figure to join Martin Marietta West Group’s Western Division, with two Wyoming and four Nebraska quarries. The transaction adds a third West Group state, along with Arkansas and Texas, where the company has integrated ready mixed and aggregate production.
Subject to Department of Justice approval, the deal transfers Martin Marietta’s Mississippi River aggregate production and distribution operations, from Illinois to Louisiana, to Lafarge North America.
The companies have released limited details of the transaction, pending federal government review. In addition to the Mississippi River properties, anchored by the Three Rivers Quarry near Paducah, Ky., Lafarge North America will receive a cash payment of an unspecified amount.
Sale of the metro-Denver properties, inherited in the 1997 Redland USA takeover, follow Lafarge North America’s unloading of Southeastern ready mixed, block and cement production assets earlier this year in a $760 million deal with Argos USA.