CRH said it has made two acquisitions that extend the reach of its North American and European Materials divisions.
In North America, the Oldcastle Materials Group has acquired Hallet Materials and Des Moines Asphalt & Paving Company for $74.9 million including debt.
In the Middle East, the Europe materials division has acquired a 25 per cent stake in the Mashav group in Israel for $48 million.
Hallet Materials and Des Moines Asphalt & Paving were two unrelated companies under separate ownership and were headquartered in Des Moines, Iowa.
Combined adjusted trading profit of the two businesses in 2000 amounted to $12.6 million on sales of $57.3 million.
Mashav is the holding company for Nesher Cement, the sole producer of cement in Israel. Mashav reported pre-tax profits of euro 65 million last year.
AFP
