Martin Marietta Materials, a Raleigh, N.C., crushed stone, sand and gravel producer, must divest an Oklahoma quarry and two Texas rail yards to clear anti-trust hurdles and complete its planned $2.7-billion purchase of Dallas-based rival Texas Industries Inc. (TI), the U.S. Justice Dept. said on June 26.
Martin Marietta last year shipped 128.4 million tons of aggregates across 30 states for $2.1 billion in net sales, with Texas accounting for its largest sales share, at 19%.