Construction materials supplier Martin Marietta Materials Inc said on Monday it will buy HeidelbergCement AG’s assets in California and Arizona for $2.3 billion.
The all-cash deal seeks to capitalise on state infrastructure investments and private-sector growth in the two U.S. states.
The Raleigh, North Carolina-based company said it entered an agreement with HeidelbergCement’s U.S. affiliate, Lehigh Hanson Inc, to buy assets including 17 active aggregates quarries and two cement plants.
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