Firm’s takeover policy scaled back

CRH, which has spent well over €1 billion a year in acquisitions over several years, reported a sharp reduction in takeovers in the second half of 2008.

Over the period CRH paid out €273m on 16 acquisitions and investments. That reflected the sharp deterioration in the group’s global trading environment.

The group’s investment in new deals was significantly higher at €700m in the first half of the 2008.