CRH builds for the future

CRH is building for the future after splashing out €630m on nearly 20 acquisition and investment moves during the last year.

The building materials group moved its main listing to London last year as conditions in Ireland weakened.

Its Americas division agreed 12 deals valued at €256m, including acquiring seven concrete-paving facilities in Canada and Florida.

In Europe, CRH spent €119m snapping up concrete products manufacturers in Finland, the Isle of Man, as well as the acquisition of two distribution businesses in Belgium, and an expansion of the engineered accessories business in the UK.

Last year CRH’s 26% associate in China, Yatai Group Building Materials, invested in the development of a precast concrete plant in Shenyang, capital of Liaoning Province, to serve the strong market demand from construction of large-scale tower block apartments and non-residential public buildings in the city.

CRH chief executive Myles Lee said the company expects to get long-term value out of its acquisitions.

“The €0.6bn of development activity during 2012 reflects CRH’s long-term, value-based approach to developing our balanced portfolio,” he said.

“The materials transactions bring strong asset-backed resource positions and, when combined with existing operations, provide significant opportunities for vertical integration.”