CRH is expected to make another large-scale acquisition some time next year as its cash generation improves and debt levels continue to decline.

The newly created European cement giant, LafargeHolcim formally launched yesterday, with the immediately stated aims of full merger integration by the end of next year, and cost savings of €1.4bn being achieved by the end of 2018.

Shareholders of Swiss cement maker Holcim paved the way for the planned merger with French rival Lafarge SA by approving a capital increase needed for the deal.