CRH reveals €400m spend in second half of 2011
CRH, the Irish building materials group, has announced it spent €400m on acquisitions and investments in the second half of 2011. The total spend for 2011 was €600m.
CRH, the Irish building materials group, has announced it spent €400m on acquisitions and investments in the second half of 2011. The total spend for 2011 was €600m.
In an update on its acquisition activities in the second half of last year, the company said the biggest investment came in its Europe Materials division which spent €195m including a deal to boost its cement grinding capacity in Belgium.
The Americas Materials division splashed out €112m, including the purchase of 0.25bn tonnes of aggregate reserves.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The totals in CRH's other businesses were €28m at its Europe Products and Distribution arm and €72m through Americas Products and Distribution.
CRH's Chief Executive Myles Lee said: "The bolt-on transactions ... are very much in keeping with the group's strategy to acquire businesses which add value to our existing operations or which expand our footprint in developed markets where we see opportunities for further growth."
CRH shares were broadly flat at the open.
BS
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Ofgem proposes new energy tariffs with low or no standing changes
Standing charges have invited public backlash as households battle high energy bills
By Katie Williams Published
-
Google shares bounce on Gemini 2.0 launch
Google has launched the latest version of its Gemini AI platform, and markets have responded positively. Is it time to buy Google shares?
By Dan McEvoy Published