Martin Marietta to Expand West With $2.3 Billion Acquisition (3)

Martin Marietta Materials Inc. agreed to buy HeidelbergCement AG’s business activities in the western U.S. for $2.3 billion in cash, giving it a coast-to-coast footprint and a broader product offering.

The transaction includes Lehigh Hanson’s business activities in cement, ready-mixed concrete, and asphalt in California, Arizona, Oregon, and Nevada, except for the Permanente cement plant and quarry. It also includes two cement production plants with related distribution terminals and 17 active aggregate sites, the companies said in separate statements on Monday.

“Lehigh’s West Region has leading positions in some of the nation’s most attractive markets, providing Martin Marietta with ...