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MARTIN MARIETTA ACQUIRES 50 PERCENT INTEREST IN KASER CORPORATION

MARTIN MARIETTA ACQUIRES 50 PERCENT INTEREST IN KASER CORPORATION
 BETHESDA, Md., April 20 /PRNewswire/ -- Martin Marietta Corp. (NYSE: ML) has acquired a 50 percent interest in Kaser Corp., a Des Moines, Iowa-based producer of construction stone, sand, gravel and gypsum, with 17 locations in Iowa and Missouri. Kaser's sales exceeded $15 million in 1991.
 The investment is Martin Marietta's fourth in the last 12 months to acquire new aggregates properties and is part of its strategy to expand the corporation's non-defense businesses, according to Stephen P. Zelnak, president of Martin Marietta's Materials Group. Martin Marietta Aggregates, which reports to Zelnak, is the third-largest producer of crushed stone for the U.S. construction industry and ships to markets in 21 states.
 Peter Kaser, chairman of Kaser Corp., will continue as its chairman and chief operating officer. "We are extremely pleased to be able to form this strategic alliance with Kaser in a market that has significant earning growth potential," Zelnak said.
 -0- 4/20/92
 /CONTACT: Charles Manor of Martin Marietta, 301-897-6258/
 (ML) CO: Martin Marietta; Kaser Corporation ST: Maryland IN: MNG SU: TNM


MH-DC -- DC021 -- 0151 04/20/92 14:34 EDT
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Publication:PR Newswire
Date:Apr 20, 1992
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