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CRH spent $496 mln on deals in second half
January 3, 2013 / 10:31 AM / 5 years ago

CRH spent $496 mln on deals in second half

DUBLIN, Jan 3 (Reuters) - Irish building materials group CRH said it spent 375 million euros ($496 million), mostly in North America, on 18 deals in the second half of last year.

That meant CRH, which moved its primary listing to London last year, agreed deals worth almost 630 million euros in 2012 against a backdrop of weak conditions in most of its main markets.

CRH said on Thursday its Americas division agreed 12 deals worth a total of 256 million euros in the second half, including the acquisition of seven concrete-paving facilities in Canada and Florida.

In Europe, the company spent 119 million euros, while an investment in a precast concrete plant was also made in China.

“Overall spending levels have remained similar to last year, the activity levels illustrate the on-going fire power of CRH’s cash flow and balance sheet,” Davy Stockbrokers analyst Barry Dixon said.

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