Martin Resource Management Corp. announces formation of Martin Asphalt Co.

News Martin Resource Management Corp. October 27, 2006
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Martin Resource Management Corp. (MRMC) has announced the formation of Martin Asphalt Co.--a vertically integrated, strategic and long-term source of all grades of asphalt and raw asphalt materials to be headquartered in Houston. The new company is being formed through the purchase and amalgamation of Prime Materials and Supply Corp., Gulf States Asphalt Co. with Martin Product Sales LLC's asphalt division.

MRMC is a privately owned family business with over 1,500 employees. It was founded in Kilgore, Texas, in 1951 by R.S. Martin, Jr. Today, MRMC is a holding company for several operating subsidiaries, including Martin Product Sales, Midstream Fuels, Martin Transport and an interest in Martin Midstream Partners, a publicly traded company.

Martin Asphalt Co. joins this family of businesses, which include 22 marine terminals across the Gulf Coast that store various liquid products including asphalt. MRMC markets and transports asphalt via its marine fleet of nine asphalt barges, a truck fleet of 50 asphalt trailers and various rail logistics. This is in addition to its marketing and transporting of NGL/LPG's, molten sulfur, distillates, light and heavy fuel oil, sulfuric acid and other liquid petroleum and chemical products.

Prime Materials and Supply Corp. is an asphalt emulsion manufacturer founded in 1987, with production facilities in Houston and Port Neches, Texas. Prime produces a wide variety of asphalt emulsions manufactured to the Texas Department of Transportation, ASTM and AASHTO specifications.

Gulf States Asphalt Co., located in South Houston, began in 1947 as a supplier of paving and roofing asphalts. The company produces an extensive product line of roofing asphalts, all grades of paving and PG asphalts, vinyl tile and wooden screed adhesives, road-marker adhesives and precast concrete joint sealants.

The combined strength and market positions of these two industry leaders into Martin Asphalt Co. provides MRMC further penetration and integration into the asphalt end-user market with assured quality, availability and pricing to the end users of everything asphalt.

MRMC has appointed William F. O'Leary, founder and president of Prime Materials and Supply, as vice president in charge Martin Asphalt Co. O'Leary has 25 years of experience in the asphalt industry.

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