FRRVY - Ferrovial sells U.S. concrete unit to Martin Marietta for $140M - Reuters

Ferrovial (OTCPK:FRRVF) has agreed to sell its U.S.-based Southern Crushed Concrete unit to Martin Marietta Materials (NYSE:MLM) for ~$140M, according to a Reuters report. Ferrovial said last month that it had agreed to sell certain non-strategic assets, including SCC, but did not give details. Martin Marietta owns plants in Texas, Colorado and Wyoming and provides cement, ready-made concrete and other construction materials. Martin Marietta is a leader in the space of heavy materials suppliers, but currently offers "mediocre " return on equity, Laurentian Research writes in a recent analysis posted on Seeking Alpha.

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Ferrovial sells U.S. concrete unit to Martin Marietta for $140M - Reuters