Martin Marietta Materials, Inc. And Dravo Corporation Announce Receipt Of Second Request

Business Wire, Nov 18, 1994

RALEIGH, N.C.--(BUSINESS WIRE)--Nov. 18, 1994--Martin Marietta Materials, Inc. (NYSE:MLM) and Dravo Corporation (NYSE:DRV) said today that they are responding to a request for information from the Federal Trade Commission in connection with the previously announced acquisition by Martin Marietta Materials of Dravo's aggregates business.

The companies indicated that the second request was focused on only a narrow market area which represents approximately one-half of one percent of Dravo's total aggregates sales.

Dravo and Martin Marietta Materials expressed their belief that the transaction is not anticompetitive and indicated that they remain optimistic that closing will occur before the end of the year.

Martin Marietta Materials, Inc. is the nation's third largest producer of construction aggregates and a leading producer of magnesia-based chemicals and refractory products used in a wide variety of industries.

A leading producer of lime products, Dravo Corporation currently ranks ninth among U.S. construction aggregates producers.

CONTACT: Martin Marietta Materials Inc.

              Janice K. Henry, 919/781-4550
                             or
              Dravo Corporation
              Ernest F. Ladd, 205/405-8434