CRH solidifies position in the US

CRH solidifies position in the US
Published: 30 December 2005

 

The year 2005 saw CRH complete three deals totalling €344m to further extend its exposure to the market. The first of these deals was for Kentucky and Virginia-based Mountain Companies which own largescale quarries of sand and gravel.

It also took a 50 per cent stake in Bizzack, an affiliate of Mountain which specialises in heavy construction. The acquisition should position CRH well to pick up on any upturn in spending infrastructure in the region which lagged behind in 2004. CRH also snapped up Southern Minnesota Construction, which it intends to incorporate into its Iowa materials division.

All told, the new businesses had turnover of US$294m in 2004 which, as spending on roads picks up in the US and as savings are obtained by integrating their operations into CRH’s materials division, marks a good year in the States for the building materials giant. (Irish Independent Newspapers)