US-based Martin Marietta Materials Inc has successfully completed the acquisition of Lehigh Hanson’s West Region business for US$2.3bn.

The acquisition provides the company with 17 active aggregates facilities, two cement plants and related distribution terminals, alongside targeted downstream operations serving key California and Arizona regions, including the Bay Area, Los Angeles, San Diego and Phoenix, according to a press release.

"We are pleased to complete the Lehigh West Region acquisition and welcome a talented group of new employees to the Martin Marietta team. These assets serve as a new growth platform for our continued geographic expansion and are uniquely positioned to benefit from favourable market dynamics and accelerating public and private construction activity in California and Arizona. We are confident in our ability to quickly realise the benefits of this transaction and deliver significant value creation for our shareholders, customers and employees following the same proven approach we took with our acquisitions of TXI and Bluegrass," said Ward Nye, CEO of Martin Marietta.