CRH, the international building materials company, has announced spending of €197.7 million (£155.7 million) on development initiatives around the world in the first half of 1999. These exclude the major acquisition already announced. The biggest spending, amounting to €134.6 million, was in North America, followed by €58 million in Europe and €5.1 million in South America. The investments were essentially bolt-on activities. The acquisitions in the US included operations in New York State, New Mexico, Colorado, Wyoming and Idaho by the Materials Group together with the buyout of the minority shareholding in PJ Keating.
Poughkeepsie Asphalt will be an add-on to Tilcon's Clinton Point quarry in New York. This, CRH said, establishes Tilcon's presence in the Dutchess and Putnam counties asphalt markets and strengthened its existing aggregate operations in the area. The Materials Group also made three add-on acquisitions - Albuquerque Rock Products, American Building Supply and Way-Cor Redi-Mix. The three companies have combined sales of €21 million.
B&B Excavating, a leading integrated aggregates, asphalt, readymix and construction business, located in Edwards, Colorado, with sales of €21 million, was acquired in June.
Other acquisitions by the Materials Group included Cundy Asphalt, an asphalt paving contractor, with sales of €19 million, based in Gillette in north-eastern Wyoming, Idaho Concrete Company and Hunziker Construction Company. The businesses have combined sales of €11 million and they "extend the scope of vertical integration in the Idaho market", said CRH.
Another group subsidiary, Oldcastle Architectural Products, acquired Young Block Company in Arizona, with sales of €10 million, Eagle Concrete Products, near Houston, Texas with sales of €24 million, 4D and three concrete rooftile plants from Monier-Lifetile.
In Europe, it acquired part of the Polish government's stake in Cementtownia Ozarow, bringing its interest to 94 per cent. This Polish company purchased Faelbud, an integrated manufacturer of ready-mixed concrete, based in Lublin, in Poland, and increased its stake in Cement townia Rejowiec to 100 per cent. CRH also acquired the outstanding shares in Holding Cement Polski and a 75 per cent interest in Podilsky Cement, a Ukrainian cement manufacturer. And in the products and distribution sector, CRH acquired a leading specialist brick merchant in the Netherlands and a brick production facility in Britain.
In South America, the group acquired a 50 per cent interest in Vidrios Dell Orto, a market leader in glass tempering.
