Martin Marietta To Sell Certain West Coast Cement, Ready Mixed Concrete Operations For $250M Cash

• Martin Marietta Materials, Inc. (NYSE:MLM) has agreed to sell certain West Coast cement and ready mixed concrete operations to CalPortland Company for $250 million in cash.
• The operations include the Redding cement plant, related cement distribution terminals, and 14 ready-mixed concrete plants in California.
• The transaction is expected to close in the second half of 2022.
• The parties also entered into preferred arrangements regarding the potential sale of the company's Tehachapi cement plant and related cement distribution terminals.
• Price Action: MLM shares closed lower by 1.48% at $379.40 on Monday.