Martin Marietta Materials to sell California cement plant for $317M

Martin Marietta Materials (NYSE:MLM) will sell the Tehachapi, California cement plant to UNACEM for $317M in cash.  

Transaction closing expected in H2 2023.

More on Martin Marietta Materials

• Martin Marietta Materials: Not A Buy Despite Good Growth Prospects
• Knife River rated Outperform in new coverage by Oppenheimer
• Makers of building materials downgraded at J.P. Morgan
• Martin Marietta $350M sale of California cement plant canceled amid FTC review

Comments

[CALgoldenBears]

What’s the reason for divesting in CALIfornia? Too much regulation? Too much taxes?