CRH disposal to earn €21m

CRH has reached agreement to sell its Premier Periclase subsidiary to Austrian company RHI for €21 million.

The disposal of the Drogheda, Co Louth-based business is being seen as a further boost to the building materials giant’s financial firepower.

CRH has spent more than €380m on acquisitions and investments so far this year and recently said that it could “comfortably” spend between €1.5 billion and €2bn on acquisitions over the next 12 months without stretching its balance sheet or putting pressure on its credit rating.