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News : Irish Last Updated: Jan 4, 2012 - 8:37 AM


CRH announces investments of €0.4bn during second-half of 2011
By Finfacts Team
Jan 4, 2012 - 8:23 AM

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CRH, the global building materials group, was formed through a merger in 1970 of two leading Irish public companies, Cement Limited (established in 1936) and Roadstone Limited (1949). About 90% of CRH's shares are held outside Ireland. CRH's has a payroll of 80,000 and less than 2,000 are located in Ireland.

CRH, the international building materials group, today announced 23 acquisition and investment initiatives totalling approximately €0.4bn undertaken during the second-half of 2011.

The Europe Materials units had 3 acquisitions with 1 investment valued at €195m while the Europe Products & Distribution had 4 acquisitions at €28m. There were 9 acquisitions at America Materials valued at €112m (US$157m).

CRH also spent €72m on six acquisitions in its Americas products and distribution division. Other deals included companies in Belgium, Finland, China, Ukraine, France and the US. They ranged from cement plants in Ukraine to asphalt plants in New Jersey.

Commenting on these developments, Myles Lee, CRH chief executive, said: “The bolt-on transactions announced today are very much in keeping with the Group’s strategy to acquire businesses which add value to our existing operations or which expand our footprint in developed markets where we see opportunities for further growth. Meanwhile we continued to grow our activities in developing economies by investing through our 26% associate in northeastern China and through a strategic bolt-on acquisition in Ukraine.”

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