INDUSTRY INSIDER | May 23, 2024

Martin Marietta Completes Acquisition of Aggregates Operations From Affiliates of Blue Water Industries LLC

Original Source: FocusOn Mining Aggregates & Construction

RALEIGH, N.C., — This portfolio optimizing transaction improves the Company’s product mix, margin profile and durability through economic cycles by adding another pure aggregates business to its already aggregates-led portfolio.

Ward Nye, Chairman, President and CEO of Martin Marietta stated, “The BWI Southeast acquisition naturally complements Martin Marietta’s existing geographic footprint in the dynamic southeast region by allowing us to expand into new growth platforms in SOAR-specific target markets including Nashville and Miami. Combined with the recent acquisition of Albert Frei & Sons, Inc. in Colorado, these two pure-play aggregates transactions provide approximately 1 billion tons of proven, high-quality reserves and are expected to generate more than $180 million of annualized EBITDA.”

Martin Marietta will host its first-quarter 2024 earnings conference call on Tuesday, April 30, 2024, at 10:00 a.m. Eastern Time. The Company will release results for the quarter ended March 31, 2024, and its revised full year 2024 Adjusted EBITDA guidance inclusive of the BWI Southeast acquisition that morning before the market opens.

A live, listen-only webcast and supplemental information will be accessible on the Investors section of the Company’s website at www.martinmarietta.com. The conference call may also be accessed by dialing +1 (206) 962-3782 and using conference ID 60922384. Please dial in at least 15 minutes in advance to ensure a timely connection to the call. An on-demand replay will be available on the Company’s website approximately two hours following the conclusion of the live broadcast and will be available for one year.