AUSTIN, TX — Martin Marietta Materials, Inc. announces that it has entered into a definitive agreement to sell its Colorado and Central Texas ready mixed concrete operations to Smyrna Ready Mix Concrete LLC.
“As we have previously stated and consistent with our SOAR (Strategic Operating Analysis and Review) 2025 objectives, we look for opportunities to optimize our aggregates-led portfolio and maximize value for our shareholders," said Ward Nye, Chairman, President, and CEO of Martin Marietta. "Proceeds from this divestiture will be used to advance our long-standing capital allocation priorities, which are focused on value-enhancing acquisitions, prudent organic investments, and returning cash to shareholders through both a meaningful and sustainable dividend and our share repurchase program.”
Martin Marietta is an American-based company and a supplier of building materials, including aggregates, cement, ready mixed concrete, and asphalt. Through a network of operations spanning 28 states, Canada, and The Bahamas, Martin Marietta teams supply the resources for building the foundations on which communities thrive. Martin Marietta’s Magnesia Specialties business produces high-purity magnesia and dolomitic lime products used worldwide in environmental, industrial, agricultural, and specialty applications.
Smyrna Ready Mix Concrete is the largest privately-owned ready mixed concrete producer in the United States. Established in 1999 by Mike and Melissa Hollingshead in Smyrna, Tennessee, the family-owned company owns and operates a network of ready mixed concrete plants, quarries, cement terminals, and other ancillary services. Smyrna Ready Mix Concrete focuses on providing building material services across the commercial and residential construction segments.
Martin Marietta to Sell Colorado and Central Texas Ready Mixed Concrete Operations to Smyrna
