Martin Marietta Materials, Inc. supplies aggregates products (crushed stone, sand, and gravel) and heavy building materials (cement) for the construction industry, including infrastructure, nonresidential, residential, railroad ballast, agricultural, and chemical grade stone used in environmental applications. Segments The company conducts its Aggregates business through three segments: Mid-America Group, Southeast Group, and West Group. The company’s Cement business is reported through the Cement segment. The company also has the Magnesia Specialties segment, which includes its magnesia-based chemicals and dolomitic lime businesses. Aggregates Business The Aggregates business mines, processes, and sells granite, limestone, sand, gravel, and other aggregate products for use in various 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 include asphalt, ready mixed concrete, and road paving operations in Arkansas, Colorado, Louisiana, Texas, and Wyoming. The company supplies aggregates for the construction industry in the United States. In 2014, the company’s Aggregates business shipped and delivered aggregates, asphalt products, and ready mixed concrete from a network of approximately 400 quarries, underground mines, distribution facilities, and plants to customers in 32 states, Canada, the Bahamas, and the Caribbean Islands. Seasonality: The company’s Aggregates business is highly seasonal, due primarily to the effect of weather conditions on construction activity within its markets. The operations of the Aggregates business that are concentrated in the northern and midwestern United States and Canada typically experience more severe winter weather conditions than operations in the southeastern and southwestern regions of the United States. Excessive rainfall, flooding, or severe drought could also jeopardize shipments, production, and profitability in all of the company’s markets. Subject to these factors, the company’s second and third quarters (year ending December 2014) are the strongest, with the first quarter reflecting the weakest results. Similarly, the operations of the Aggregates business in the southeastern and Gulf Coast regions of the United States and the Bahamas are at risk for hurricane activity, including in August, September, and October, and have experienced weather-related losses from time to time. Cement Business The company’s Cement business, acquired in 2014 with the acquisition of Texas Industries, Inc., produces Portland and specialty cements, such as masonry and oil well cements, with production and distribution facilities in Texas and California. Similar to the Aggregates business, cement is used in infrastructure projects, nonresidential and residential construction, and the railroad, agricultural, utility and environmental industries. The company has the major position in the Texas cement market, with two production facilities, one located in Midlothian, Texas, south of Dallas/Fort Worth; and the other located in Hunter, Texas, between Austin and San Antonio. The company also has a rail-located cement plant in southern California at Oro Grande, California, near Los Angeles, California; and operates cement grinding and packaging facilities at the Crestmore plant near Riverside, California. In addition to the manufacturing and packaging facilities, the company operates five cement distribution terminals. Magnesia Specialties Business The company manufactures and markets, through its Magnesia Specialties 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. Dolomitic lime products sold to external customers are used primarily by the steel industry. These products are used in the steel industry, either directly as dolomitic lime or indirectly as a component of other industrial products. Marketing The Aggregates and Cement businesses market its products primarily to the construction industry, with approximately 44% of its 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. Customers The company’s products are sold principally to commercial customers in private industry. Although large amounts of construction materials are used in public works projects, relatively insignificant sales are made directly to federal, state, county, or municipal governments, or agencies thereof. Patents and Trademarks As of February 13, 2015, the company owned, had the right to use, or had pending applications for approximately 54 patents pending or granted by the United States and various countries, and approximately 114 trademarks related to business. Environmental and Governmental Regulations In 2014, the company received a federal Clean Air Act Section 114 request for information regarding the Manistee, Michigan operations from the United States Environmental Protection Agency, similar to the one initially received at the Woodville, Ohio plant. History Martin Marietta Materials, Inc. was founded in 1993 as a North Carolina corporation.
martin marietta materials
(MMX:German Stock Exchange)
2710 Wycliff Road
Raleigh, NC 27607-3033
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