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CALMAT ANNOUNCES ACQUISITION IN NORTHERN CALIFORNIA

 CALMAT ANNOUNCES ACQUISITION IN NORTHERN CALIFORNIA
 LOS ANGELES, Sept. 28 /PRNewswire/ -- CalMat Co. (NYSE: CZM)


announced today that it has signed a definitive agreement to acquire substantially all of the assets of The Jamieson Co., a major San Francisco Bay-area producer of aggregates, located in Pleasanton, Calif. The Jamieson Co., a well-run, family-owned aggregates business has operated in the Pleasanton area for more than 50 years.
 In a transaction expected to close prior to the end of this year, CalMat will pay $34 million for an aggregates production facility, mining equipment and related real estate. In addition, the purchase includes the exclusive rights to mine in excess of 100 million tons of permitted aggregates reserves. This transaction will be financed using the company's existing lines of credit. While not expected to have a material impact on earnings in the near term, the acquisition is a continuation of CalMat's long-standing policy of expanding its aggregates business into contiguous, high-growth population centers characterized by dwindling aggregates reserves.
 The Jamieson Co.'s primary markets are the greater Oakland and East San Francisco Bay areas. CalMat currently operates a number of asphalt plants in Northern California, including one located on the property that is being acquired. This acquisition will provide the company with substantial, high-quality, aggregates reserves in this strategically important Northern California market.
 The market area has a population of approximately 5 million people, and it is expected to increase 11 percent by the end of the decade. Total annual aggregates consumption for these markets is currently at a cyclical low of approximately 15 million tons. The prior cyclical peak in the mid-1980's was approximately 25 million tons, some 70 percent higher than current levels.
 Industry data shows that total construction activity in the greater Oakland/East San Francisco Bay market area was up 36 percent for the first seven months of 1992, making it one of the fastest growing areas in the state. It will become the third largest market served by CalMat in California.
 CalMat Co. is one of the largest U.S. producers of construction aggregates, asphalt, and ready mixed concrete. It operates in California, Arizona and New Mexico.
 -0- 9/28/92
 /CONTACT: Ronald C. Hadfield, executive VP-finance and administration of CalMat, 213-258-2777/
 (CZM) CO: CalMat Co.; The Jamieson Co. ST: California IN: CST SU: TNM


AL -- LA006 -- 3846 09/28/92 09:12 EDT
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Publication:PR Newswire
Date:Sep 28, 1992
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