Martin Marietta acquires six quarry locations from Vulcan Materials

(BOSTON) — Martin Marietta Materials Inc. (NYSE:MLM) Monday said it acquired six quarry locations in Georgia and Tennessee from Vulcan Materials (NYSE:VMC) Co.

Martin Marietta said it paid $192 million in cash and divested to Vulcan its California quarry, an idle facility north of San Antonio, and land in Henderson, N.C., formerly leased to Vulcan.

The Raleigh, N.C.-based company said the newly acquired facilities expands its presence in high-growth areas of Georgia and Tennessee, particularly south and west of Atlanta.

Shares of Martin Marietta fell 1.3% to $104.45, while shares of Birmingham, Ala.-based Vulcan slipped 53 cents to $70.31.

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