2nd May 2006 14:00
CRH PLC02 May 2006 NEWS RELEASE May 2, 2006 CRH ACQUIRES LEADING EUROPEAN PRODUCER OF CONSTRUCTION ACCESSORIES CRH plc, the international building materials group, announces that it hasacquired the Halfen-Deha Group (Halfen), a leading European producer of metalconstruction accessories used in commercial, civil engineering and residentialconstruction for a cash consideration, including debt acquired, of approximately€170 million. Intangible assets, largely goodwill, arising on this deal amountto approximately €100 million. Halfen, which was founded in 1929, produces a range of construction accessoriesincluding anchoring technology, facade fixing systems, reinforcementaccessories, transport anchor systems and framing systems. Its products are usedboth in precast and on-site applications, primarily in the new-buildnon-residential and infrastructure sectors. Halfen's product range of engineeredconstruction accessories is sold directly to contractors and precast plantsrather than through builders merchants. In 2005, profit before interest, tax, depreciation and amortisation (EBITDA) forHalfen amounted to €22 million on sales of €190 million. Halfen employs approximately 1,300 people in 16 countries and operates from anetwork of six modern production sites comprising two in Germany and one each inPoland, the Netherlands, Sweden and Malaysia, while its product range isbrought to market through a sales network covering 42 countries world-wide. TheMMI business which CRH acquired last week is a main distributor of Halfenproducts in the United States . Halfen's strong brand name and reputation forproduct quality as well as its geographical spread represent an importantaddition to the Construction Accessories platform of Europe P&D. Halfen'sextensive distribution network provides opportunities for further growth anddevelopment of CRH's existing range of construction accessories. Commenting on the transaction, Liam O'Mahony, Chief Executive of CRH said: "Halfen is an excellent fit with our existing Construction Accessories businessmaking CRH the market leader in Europe in this sector with combined sales ofover euro 330 million and introducing further breadth to our distributionnetwork. Halfen's track record of product quality makes it a first choice ofmany end-users in the construction business. The acquisition strengthens oursuccessful Construction Accessories business in Western Europe and expands theopportunities for co-operation between this business and our new MMI platformbusiness in the United States which is itself a significant player in thissector." Contact CRH at Dublin 404 1000 (+353 1 404 1000) Liam O'Mahony, Chief Executive Myles Lee, Finance Director Eimear O'Flynn, Head of Investor Relations Maeve Carton, Group Controller CRH plc, Belgard Castle , Clondalkin, Dublin 22, Ireland TELEPHONE +353.1.4041000 FAX +353.1.4041007 E-MAIL [email protected] WEBSITE www.crh.com Registered Office, 42 Fitzwilliam Square , Dublin 2, Ireland This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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