Acquisitions · Building materials
Taiheiyo Cement's CalPortland buys Martin Marietta's Redding cement plant for $250 million
- Buyer
- Taiheiyo Cement (via CalPortland) (Tokyo)
- Target
- Martin Marietta's Redding cement plant and California concrete operations, Redding, California
- Value
- $250M
- Status
- Completed; CalPortland closed the deal at the start of July 2022.
- Date
- 2022-03-01
CalPortland, Taiheiyo Cement's U.S. subsidiary, agreed to buy Martin Marietta's cement plant in Redding, California, along with related distribution terminals and 14 ready-mixed concrete plants, for $250 million in cash. The parties also set preferred terms for a possible later sale of Martin Marietta's Tehachapi cement plant.
Why it matters
With cement demand shrinking at home, Taiheiyo is expanding on the U.S. West Coast, where infrastructure spending supports steady growth.
Where the plant came from
Martin Marietta had bought the Redding and Tehachapi cement plants from Lehigh Hanson in October 2021, as part of a larger purchase of West Coast assets. It sold Redding to CalPortland a few months later.
CalPortland's map
CalPortland's other California cement plants are in Mojave and Oro Grande, in the south of the state. Redding, in the far north, gives it a base to supply northern California, Oregon and Nevada.
Sources
Kakehashi M&A News home
