US/Japan: Taiheiyo Cement Corp has announced that its California subsidiary CalPortland Co will buy North Carolina-based Martin Marietta Materials Inc's cement business in California for US$420m. Taiheiyo Cement aims to complete the acquisition procedures by the end of September 2015. The acquisition will allow the company to recoup the cement production capacity lost by the discontinuation of output at CalPortland's plant in Colton, California and to establish a cement supply system to meet growing demand in California, Arizona and Nevada.
Taiheiyo Cement to buy Martin Marietta Materials’ California cement business
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