CRH Reports Group Development Activity Of About €0.69 Bln In 2013 - Quick Facts

(RTTNews) - UK-based building materials group CRH Plc (CRH.L, CRH) announced seven acquisition and investment initiatives undertaken in the second half of 2013. These transactions, coupled with the prior announced Mykolaiv Cement acquisition in Ukraine, and the purchase of Sree Jayajothi Cements Ltd. by its 50:50 Joint Venture, My Home Industries Ltd., in India, bring total second half spend to 0.22 billion euros and 2013 Group development activity to nearly 0.69 billion euros.

Commenting on this, CRH's Chief Executive said: "Development spend of almost €0.7 billion in 2013 reflected our strategic focus on establishing leading positions in attractive markets. During the second half of the year, we continued to strengthen our cement operations in high growth markets in Ukraine, India and China. The second half also saw several attractive bolt-on transactions which expand our aggregates positions in a number of key markets in the United States. In our Distribution segments, which benefit from resilient RMI spend in developed markets, we were pleased to add four branches to our existing network of builders merchanting outlets in northern France, and a total of five branches in Texas, Florida and Georgia in the United States."

In September, the Group's 26% associate in China, Yatai Group Building Materials, closed the purchase of Zhongbei Cement Co. Located in central Liaoning Province, northeast China, Zhongbei is capable of producing 3.6 million tonnes of clinker per year. The company also added that three bolt-on acquisitions were concluded by its Americas Materials unit in the second half of 2013, adding incremental sales of 21 million euros.