CRH working on acquisitions

CRH working on acquisitions
Published: 28 May 2010

CRH said it is watching out for acquisitions of a larger nature as indebted companies sell assets.

"We are working on quite a good number of opportunities at the moment but we are focused on getting good value and if it means being a bit more patient until we see that value and are prepared to conclude deals, well then we are prepared to do that," Lee told the Irish Times in an interview published on Friday.

The company has already carried out some EUR10-20m worth of deals earlier this year.

CRH broadly splits revenue between European and the United States, with the balance in developing markets. Lee said this was likely to change, with developing markets taking up a greater share of its business, meaning expanding on existing footholds in India and China, the paper said.

"We are keen to push out and build on what we have established in Asia," Lee said. "We have been a bit more cautious than others since we stepped in there."