Who Owns CalMat?

CalMat was founded in 1957 in Los Angeles, California, as an independent producer of asphalt and ready-mixed concrete. The company was established to serve the post-World War II construction boom in California, which was driven by rapid population growth, suburban expansion, and the development of the interstate highway system. California's expanding infrastructure created sustained demand for asphalt for road paving and concrete for building foundations and structural applications.

The company built a network of asphalt plants and ready-mixed concrete batching plants across California. CalMat established relationships with state highway departments, general contractors, and infrastructure developers, becoming one of the largest independent producers of construction materials in the western United States. Its geographic coverage extended from the San Francisco Bay Area in the north to the Los Angeles Basin and San Diego in the south.

Through the 1960s and 1970s, CalMat grew both organically and through acquisitions of smaller asphalt and concrete producers. The company expanded into neighboring western states, serving construction projects in Arizona, Nevada, and other regional markets. CalMat developed technical expertise in producing specialized asphalt mixes for highway paving, airport runways, and commercial developments, as well as structural concrete mixes for high-rise buildings and infrastructure projects.

By the 1980s and 1990s, CalMat had become one of the largest independent producers of asphalt and ready-mixed concrete in the western United States. The company's scale and California market position made it an attractive acquisition target for larger construction materials companies seeking to expand into the western U.S. market. CalMat was publicly traded on the New York Stock Exchange under the ticker CZM before its acquisition.

In November 1998, Vulcan Materials Company acquired CalMat for $760 million in cash. The acquisition was transformative for Vulcan. It marked the company's entry into the asphalt and ready-mixed concrete markets and significantly expanded Vulcan's geographic footprint in California, the nation's most populous state and one of its largest construction markets. The deal allowed Vulcan to offer integrated construction material solutions, combining aggregates from its quarries with asphalt and concrete from CalMat's plants.

Following the acquisition, CalMat continued to operate under its established brand name within Vulcan Materials' portfolio. The integration created operational synergies, as CalMat's asphalt and concrete plants could source aggregates from Vulcan's nearby quarries, reducing transportation costs and improving supply reliability. Vulcan invested in modernizing CalMat's production facilities and expanding its product capabilities.

Under Vulcan's ownership, CalMat has benefited from the parent company's financial resources, technology investments, and operational expertise. The brand continues to serve California's construction market, which represents one of the largest construction markets in the United States with approximately $50 billion in annual construction spending. CalMat's operations are now part of Vulcan's Asphalt Mix and Ready-Mixed Concrete reporting segments.