Reported 1 day ago
Martin Marietta Materials, Inc. has completed an agreement to exchange assets with Quikrete Holdings, receiving $450 million in cash along with several aggregate businesses. Quikrete will acquire Martin Marietta's cement manufacturing facility and other assets. The deal, set to finalize in early 2026 pending approvals, aligns with Martin Marietta's SOAR 2025 strategy and is expected to enhance long-term profitability. Following the recent acquisition of Premier Magnesia, the company has revised its 2025 financial outlook, projecting $1.81 billion in Q2 sales and a raised full-year EBITDA estimate to $2.30 billion.
Source: YAHOO