• Martin Marietta Buys Quarries
Martin Marietta Materials purchase a quarry operation from Symth Mine, LLP located at Uvalde, Texas. The quarry produces limestone asphalt, a naturally occurring limestone impregnated with asphaltic oil, which is a material for a variety of road resurfacing and repair applications. Martin Marietta plans to promptly initiate projects that will increase capacity and rail connect the quarry in order to expand its market potential. Mineral reserves exceed 50 million tons. The purchase price was not disclosed. The company also acquired a granite quarry near Haw River in central North Carolina."We are pleased to acquire the Haw River location," says MMM Chairman and CEO Stephen Zelnak Jr. "This quarry, which has in excess of 1 million tons of capacity, will enable us to serve the area between Greensboro and Durham in a very competitive manner from a cost-effective facility. The limestone asphalt operation at Uvalde, Texas, offers significant potential for growth in sales and earnings. We expect to be able to expand the market for this product by using our large distribution network."
