About the Company
Martin Marietta Materials is a Raleigh, North Carolina based supplier of heavy building materials and aggregates. It supplies resources for sidewalks, roads, and foundations to more than 25 states of the United States alongside the Caribbean and Canada. As of 2020, it has a workforce of over 8,800 employees working across its operations. Some of the states where it operates are Tennessee, Virginia, Texas, Seattle, West Virginia, Utah, Louisiana, Florida, Alabama, and Arkansas.
It offers products under six segments, namely Magnesia Chemicals and Lime, Aggregates, Asphalt, Cement Treated Materials, Ready Mixed Concrete, and Cement. The company has a subsidiary named Martin Marietta Magnesia Specialties under which it offers dolomitic lime and magnesium-based products. This subsidiary provides products to about 14 industries such as glass, pulp & paper, food-grade, rubber & plastic, fuel additives, agriculture, power generation, flame retardant, mining, etc. Some of its products are Cell Guard MH, FloMag H, MagChem 30, Versamag 30, Mag Shield MH 10 ULC, and UtiliMag H.
Its origin dates back to 1961 when American-Marietta Corp. merged with Glenn L. Martin Company and created the Martin Marietta Corporation. In 1993, Martin Marietta Materials was formed with Martin Marietta Corporation as its parent establishment. After two years, it acquired Dravo Corporation and five other establishments. Finally, it spun off from its parent company in 1996 and became an independent entity.
In 1997, it further acquired nine companies like American Aggregates, including institutions that produce chemical-grade limestone. After that its next significant acquisition was in 2013 when it took over three Atlanta quarries along with reserve of 800 million tons. It acquired one of the leading cement and ready mixed concrete producer, Texas Industries Inc in 2014. Lastly, in 2018 it made the second-largest acquisition of its history, that is Bluegrass Materials for $1.625 billion.
This S&P 500 company entered the New York Stock Exchange in 1994 under the ticker symbol MLM. As of 2020, it is the 572nd company in the Fortune’s Companies list. Forbes also listed it in two of its 2020 lists, namely Global 2000 and America’s Best Employers by State.;
|Organisation||Martin Marietta Materials Inc|