Profile: Martin Marietta Materials Inc (MLM)
17 Apr 2014
Martin Marietta Materials, Inc., incorporated on November 12, 1993, is the producer of aggregates products (crushed stone, sand, and gravel) for the construction industry, including infrastructure, nonresidential, residential, railroad ballast, agricultural, and chemical grade stone used in environmental applications. The Company operates in four business segments: the Mideast Group, Southeast Group, and West Group and the Specialty Products segment. The Specialty Products segment includes the magnesia-based chemicals and dolomitic lime businesses. Effective April 3, 2014, Martin Marietta Materials Inc acquired the remaining undisclosed stake, which it did not already own, in Hunt Martin Materials LLC, from its joint venture partner, Hunt Midwest Enterprises Inc.
The Company’s aggregates business also includes asphalt products, ready mixed concrete, and road paving operations. The Company also has a Specialty Products segment that manufactures and markets magnesia-based chemical products used in industrial, agricultural, and environmental applications, and dolomitic lime sold primarily to customers in the steel industry.
The Aggregates business mines, processes and sells granite, limestone, sand, gravel, and other aggregate products for use in all sectors of the public infrastructure, nonresidential and residential construction industries, as well as agriculture, railroad ballast, chemical, and other uses. The Aggregates business also includes the operation of other construction materials businesses. These businesses, located in the West Group, were acquired through continued selective vertical integration by the Company, and include asphalt, ready mixed concrete, and road paving operations in Arkansas, Colorado, and Texas.
During the year ended December 31, 2012, the Company’s Aggregates business shipped and delivered aggregates, asphalt products, and ready mixed concrete from a network of approximately 300 quarries, underground mines, distribution facilities, and plants to customers in 33 states, Canada, the Bahamas and the Caribbean Islands. The Aggregates business markets its products primarily to the construction industry, with approximately 51% of its heritage aggregates shipments made to contractors in connection with highway and other public infrastructure projects and the balance of its shipments made primarily to contractors in connection with nonresidential and residential construction projects.
Specialty Products Business
The Company manufactures and markets, through its Specialty Products business, magnesia-based chemical products for industrial, agricultural, and environmental applications, and dolomitic lime for use primarily in the steel industry. These chemical products have varying uses, including flame retardants, wastewater treatment, pulp and paper production, and other environmental applications.During 2012, approximately 73% of the lime produced was sold to third-party customers, while the remaining 27% was used internally as a raw material in making the business’ chemical products. Dolomitic lime products sold to external customers are used primarily by the steel industry. The principal raw materials used in the Specialty Products business are dolomitic limestone and alkali-rich brine. Specialty Products delivers its products upon receipt of orders or requests from customers. In 2012, the Company completed construction of a new dolomitic lime kiln for its Specialty Products business at Woodville, Ohio.
Martin Marietta Materials Inc
2710 Wycliff Road
RALEIGH NC 27607-3033