Eagle Materials Inc. completed the acquisition of Martin Marietta’s cement import and distribution business in Northern California, which includes its cement terminal in Stockton, Calif.
The acquisition is consistent with the company’s strategic intentions to extend and strengthen its distribution reach across its heartland U.S. cement manufacturing system.
Commenting on the acquisition, Michael Haack, president and CEO, said, “Our Nevada Cement operations have long-standing customer relationships in Northern California and this acquisition will uniquely position us to better serve these and new customers with complementary imported product. Our entire cement system is currently ‘sold out’ and this acquisition will enable us to more actively participate in the strong U.S. demand environment. Our experience as a cement importer elsewhere in the U.S. is a transferrable expertise at Eagle and we expect a smooth ownership transition.”