Martin Marietta Materials (Martin Marietta) has acquired Bluegrass Materials as part of a strategy to enhance its position in the southeastern and Mid Atlantic region and expand product offerings to new and existing clients.
Ward Nye, chairman, president and CEO of Martin Marietta, said: “Bluegrass’ strategic assets and impressive cost profile, combined with the depth and excellence of its personnel, strengthen our ability to deliver significant value for shareholders, customers and employees.”
Additionally, the company has reached an agreement with the US Department of Justice, which has been submitted to the United States District Court for the District of Columbia as a proposed court order, that resolves all competition issues with respect to the acquisition. Under the terms of the deal, Martin Marietta divested its Forsyth quarry north of Atlanta and will divest Bluegrass’ Beaver Creek quarry in western Maryland.
