The CRH US subsidiary, Architectural Products Group (APG), has bought two companies - Trenwyth Industries of Pennsylvania and the assets of Akron Brick and Block of Ohio - for £18.2 million. APG paid £10.3 million for Trenwyth, which manufactures high value speciality masonry products in Pennsylvania and Illinois and £7.9 million for the Akron concrete masonry business. The two groups showed combined trading profits of £2.5 million in 1996 on sales of £22.2 million. The total purchase price includes total debt assumed and deferred payments, while the goodwill arising from the two acquisitions amounted to £3.93 million, according to the firm.
AGP president Mr Joe McCullough said the acquisitions were "an ideal fit" with its existing operations and would help to fill certain geographic and product gaps in its coverage of the US market . APG now has 39 locations in 17 states, generating annual sales of around $200 million.