Concrete Products is the leading source for Concrete Plants, Concrete Mixers, Precast, and Ready Mix news.

Martin Marietta strategy chief to lead Texas Industries integration

Sources: Martin Marietta Materials Inc., Raleigh, N.C.; CP staff

In an upbeat, company-wide memo, Martin Marietta CEO Ward Nye underscores positive market, investor and employee response to the Texas Industries merger announcement three weeks prior, noting that “all remains on schedule for a targeted closing sometime this summer.”

Nye also announced formation of an Integration Management Office to facilitate the merger, effected through a stock-for-stock exchange, 0.7 MMM share for each TXI share. The merged entity will maintain the Martin Marietta brand and North Carolina headquarters, and have a major presence in TXI’s Dallas home base. Leading the Integration Management Office will be Oliver Brooks, who joined Martin Marietta in late-2013 as director of Strategy and Development from Harris Williams & Co., a Richmond, Va., investment banker.