New acquisitions for CRH

CRH plc, the Dublin-based international building materials group, have completed a number of acquisitions, totalling €133 million (£109 million) which were undertaken during the first half of 2010.

The purchases include: a cement import terminal in Wales; a new quarry operation in Portugal; three concrete plants in Holland; and a ready-mixed concrete business in India.

The company has also confirmed an equity investment of around €19 million (£15.9 million) in Yatai Cement for two key development projects in northeastern China. In addition, CRH have commenced three capital projects, which will cost €84 million (£70 million) over three years.

Commenting on these latest developments, CRH chief executive Myles Lee said: ‘The acquisition and investment transactions fit very well into our strategy of focusing on value-adding investments in our existing markets.

‘We are seeing a good flow of bolt-on opportunities across our businesses and we continue to monitor wider developments in our industry; however, we are maintaining a patient approach in progressing transactions in light of the challenging market backdrop.’