CRH in €114.5m spending spree

 

CRH has announced developments totalling €114.5 million (£90.2 million) in the second half of 1999. These are in addition to acquisitions costing €970 million completed in July and previously announced.

The European materials division spent €11.1 million. The investments include:

the acquisitions of Ballymena Construction, a Northern Ireland manufacturer of concrete rooftiles and pipes with sales of €4 million;

a 72.5 per cent stake in Mirbud, a manufacturer of precast concrete products and ready-mixed concrete, based in Skierniewice, south-west of Warsaw, with sales of €4 million;

a project at John A Wood to consolidate three concrete pipe production facilities in a new location at Carrigtohill, Co Cork.

The European products and distribution division spent €5.7 million. A 35 per cent stake was taken in Patoka Industries, a clay facing-bricks producer based in upper Silesia, south-west Poland, and it acquired a DIY store in Waalwijk in the Netherlands.

The North American materials division made investments amounting to €52.8 million. These included the acquisitions of Slusser Brothers Construction Group, with annual sales of €33 million, and South Kent Gravel and Keigley Quarry.

The North American products and distribution division spent €44.9 million. Sakrete PNW, a producer of bagged cement, was acquired. APG started construction of a large pallet paver plant in Knoxville, Tennessee and a pallet paver and masonry manufacturing complex in southern California. APG has also undertaken a project to build a new block plant in Phoenix, Arizona.

Oldcastle Precast Group acquired the pile manufacturing division of ARB in southern California. The Oldcastle Glass Group acquired Free State Glass in Washington and two speciality glass production facilities in California.