Martin Marietta goes further

The results are in for the nation's second largest aggregates producer. Martin Marietta Materials reported record fourth-quarter results. Rising energy costs and weather disruptions from the Gulf Coast hurricanes early in the quarter hurt sales. But business improved as rebuilding began in areas wrecked by Hurricanes Katrina, Rita and Wilma and demand picked up for Martin Marietta's goods and services. With the increased demand, the Raleigh company raised prices 9.8 percent during the quarter. "Certainly it's a very good time at Martin Marietta," said CEO Stephen P. Zelnak. He said the Gulf Coast area makes up just 10 percent of its business. But the demand there was strong enough to offset declines in other markets. Demand for its construction materials is expected to rise 2 percent to 4 percent this year, boosted by office and retail construction and road and highway expansion. Prices for aggregates are expected to increase 9 percent to 11 percent this year, reflecting heavy demand, rising transportation costs and supply constraints in the Southeast and Southwest, Zelnak said. Your comment?