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Martin Marietta Materials Buys Cemex Quarries

The Associated Press

RALEIGH, N.C. (AP) — Martin Marietta Materials Inc., which supplies gravel and sand to road builders, said Monday it has paid $65 million for three quarries plus the remaining 49 percent interest in a joint venture with Mexican cement producer Cemex Inc.

The quarry operations, with mineral reserves estimated at 255 million tons, are in Fort Calhoun, Neb.; Guernsey, Wyo.; and Milford, Utah. The 49 percent interest is from the Granite Canyon, Wyo., quarry where Martin Marietta is the operating manager.

Stephen P. Zelnak Jr., Martin Marietta's chairman and chief executive, said the operations are a good fit with the company's Western business and will enable it to pursue growth through additional rail and water transport possibilities.