Turnpage

Please visit our sponsors

RSS Feed
 

Current News & Press

 

Advertisement

The Bahamas Investor

News & Press Archives

 
The Bahamas Investor on facebookFollow The Bahamas Investor on TwitterSubscribe to RSS feeds from The Bahamas Investor
HOME > 
News & Press > 
Martin Marietta to acquire Texas Industries for $2B

Martin Marietta Materials (MLM) agreed on Tuesday to buy Texas Industries (TXI), a rival provider of construction materials, for $2.06 billion in stock. Once the deal is completed, Martin Marietta said it will become the largest US producer of construction aggregates, supplying stone, sand and gravel, with a network of 400 quarries, mines, distribution yards and plants in 36 states, Canada, The Bahamas and the Caribbean. 

Source:
Date:
Updated:
FOXBusiness
Wednesday, January 29, 2014
Wednesday, January 29, 2014

January 28, 2014 /FOXBusiness/ — Martin Marietta Materials (MLM) agreed on Tuesday to buy Texas Industries (TXI), a rival provider of construction materials, for $2.06 billion in stock.


The deal will expand Martin Marietta’s presence in Texas and California, where Dallas-based Texas Industries sells cement and other building materials.

Once the deal is completed, Martin Marietta said it will become the largest U.S. producer of construction aggregates, supplying stone, sand and gravel. The company’s network will grow to 400 quarries, mines, distribution yards and plants in 36 states, Canada, the Bahamas and the Caribbean.

“Texas Industries’ aggregates operations are strategically located in high growth markets and fit well into our existing portfolio, and its cement operations will further diversify our product and customer mix,” said Ward Nye, Martin Marietta’s president and CEO.

Nye added that the two construction materials firms have complementary assets and, by combining forces, can leverage an expanded geographic footprint.

This is an excerpt from FOXBusiness as it appeared on January 29, 2014. For updates or to read the current version of this post in its entirety, please click here.

Continue reading this post >

Prime Minister Perry Christie met with Cuban President Raul Castro ahead of the second Summit of the community of Latin American and Caribbean States (CELAC) in Havana, Cuba.

Speaking at the International Business & Finance Summit last weekend, experts in a range of fields including private wealth management, banking and financial media urged delegates to be aware of global trends and be innovative and flexible.

The Bahamas Investor
Administrative Links
  


  © 2017 ETIENNE DUPUCH JR PUBLICATIONS LTD