CRH continue to expand footprint
Second-half acquisitions and investments bring total 2011 development spend to €0.6 billion
CRH plc, the Dublin-based international building materials group, have announced 23 acquisition and investment initiatives, totalling approximately €0.4 billion, undertaken during the second half of 2011 as part of the group’s continuing programme of development activity.
In CRH’s Europe Materials Division, the development initiatives comprised three acquisitions and one investment totalling €195 million. These included a significant investment in cement grinding capacity in Belgium and ready-mixed concrete bolt-on additions in Finland.
In an active second-half bolt-on programme, CRH’s Americas Materials Division made nine acquisitions totalling €112 million (US$157 million), adding approximately 0.25 billion tonnes of aggregates reserves, improving existing market positions and bringing total 2011 investment by this division to approximately US$0.3 billion.
Commenting on these developments, Myles Lee (pictured), CRH chief executive, said: ‘The bolt-on transactions 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 north-eastern China and through a strategic bolt-on acquisition in Ukraine.’
