BUSINESS
October 2, 1990 | JESUS SANCHEZ, TIMES STAFF WRITER
CalMat, one of Los Angeles' oldest and largest companies, Monday swapped its California Portland Cement subsidiary for CalMat stock held by the largest cement maker in Japan in a deal valued at about $310 million. Onoda Cement Co. bought the 5.8 million shares and received the option to buy California Portland Cement two years ago as part of a deal that thwarted a hostile takeover of CalMat by New Zealand corporate raider Ronald A. Brierley.