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Martin Marietta to Acquire Ferrovial's SCC for $140M
HOUSTON, TX — Martin Marietta Materials, Inc. has inked a deal with Spanish conglomerate Ferrovial to acquire the latter's U.S.-based unit Southern Crushed Concrete (SCC) for $140 million, per Reuters.
Texas-based SCC — established in 1991 — uses practical and inexpensive methods to produce recycled concrete for a variety of construction projects throughout Southeast Texas. Apart from public and private projects, SCC is very active in the community, helping in rubble removal from hurricanes and industrial areas in Houston as well as building a local little league baseball parking lot at no cost.
Ferrovial agreed upon selling its recycled aggregates activity at Webber in June. Even so, the transaction was pending for authorization from regulatory bodies.
Martin Marietta has been acquiring businesses to expand footprint and drive growth. On May 24, the company announced that it intends to acquire Lehigh Hanson, Inc.'s West Region business (Lehigh West Region) for $2.3 billion in cash. The strategic move will add 17 active aggregates quarries, two cement plants with related distribution terminals, and targeted downstream operations to its portfolio.
On April 30, the company acquired Minnesota-based Tiller Corporation (Tiller), which will be integrated into the Central Division. Tiller is an aggregates and FOB hot mix asphalt supplier in the Minneapolis/St. Paul region. This acquisition will enhance Martin Marietta's high-margin, upstream materials business in one of the largest as well as fastest growing mid-western metropolitan areas.
Texas Contractor TrendsTexas-based SCC — established in 1991 — uses practical and inexpensive methods to produce recycled concrete for a variety of construction projects throughout Southeast Texas. Apart from public and private projects, SCC is very active in the community, helping in rubble removal from hurricanes and industrial areas in Houston as well as building a local little league baseball parking lot at no cost.
Ferrovial agreed upon selling its recycled aggregates activity at Webber in June. Even so, the transaction was pending for authorization from regulatory bodies.
Martin Marietta has been acquiring businesses to expand footprint and drive growth. On May 24, the company announced that it intends to acquire Lehigh Hanson, Inc.'s West Region business (Lehigh West Region) for $2.3 billion in cash. The strategic move will add 17 active aggregates quarries, two cement plants with related distribution terminals, and targeted downstream operations to its portfolio.
On April 30, the company acquired Minnesota-based Tiller Corporation (Tiller), which will be integrated into the Central Division. Tiller is an aggregates and FOB hot mix asphalt supplier in the Minneapolis/St. Paul region. This acquisition will enhance Martin Marietta's high-margin, upstream materials business in one of the largest as well as fastest growing mid-western metropolitan areas.
