7th Jan 2014 09:06
LONDON (Alliance News) - Building materials group CRH PLC Tuesday said it seven additional acquisitions in the second half of 2013.
The firm said the transactions announced Tuesday, together with the previously announced acquisition of Mykolaiv Cement in Ukraine and the purchase of Sree Jayajothi Cements Limited in India, brings its total acquisition spending in the second half of 2013 to EUR0.22 billion and total development activity for all of 2013 to approximately EUR0.69 billion.
In China, its 26% associate Yatai Group Buildings Materials bought Zhogbei Cement Company for EUR46 million in September, while there were three transactions totalling EUR33 million in the US.
CHR said the three bolt-on acquisitions in the US were completed by its Americas Materials Division in the second half of 2013, adding incremental sales of EUR21 million.
There were also three distribution deals completed totalling EUR12 million.
In France, the firm's general building merchants business acquired 4 Wolseley locations, while in the US, CHR acquired assets of JEH Company, comprising a single-branch roofing distributor located in Northwest Houston.
This was followed by the acquisition of Fogleman Builders Supply, a four-branch distributor of gypsum wallboard, metal studs and roofing products. It has three branches in Florida and one in southern Georgia.
These two US transactions add incremental sales of EUR30 million.
CRH shares were trading at 1,585.00 pence Tuesday morning, up 6.00 pence or 0.4%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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