CRH buy 50% stake in US-based company

BUILDING materials group CRH Plc has bought a 50% stake in American Cement Company LLC (ACC) for $50 million (€39m) in cash via its US subsidiary Oldcastle Materials Inc, it said yesterday.

ACC has been formed to develop and operate a cement plant in central Florida.

Clondalkin-based CRH said in a statement: “Oldcastle Materials’ partners in ACC are the shareholders of Trap Rock Industries, a major regional construction materials and contracting company in New Jersey.”