Trading Update – November 2017
CRH plc, the international building materials group, issues the following Trading Update for the period 1 January 2017 to 30 September 2017.
To date in 2017, the Group spent c.€1.34 billion on 27 acquisition/investment transactions (including deferred and contingent consideration in respect of prior year acquisitions). On the divestment front, the Group realised business and asset disposal proceeds of €165 million.
In the Americas, c.€690 million was spent on 18 acquisitions and one investment. Our Materials Division completed 11 bolt-on acquisitions, including two in Canada adding a further c.2 billion tonnes of aggregates reserves. The Products Division completed seven acquisitions and one investment at a cost of c.€165 million.
In Europe, c.€650 million has been spent on eight transactions; five acquisitions and one investment in Europe Heavyside and two acquisitions in Europe Distribution. The largest acquisition to date in 2017 was Fels, a leading lime and aggregates business in Germany with 1 billion tonnes of high-quality limestone reserves, which was acquired at the end of October 2017. Fels has 11 production locations, nine in Germany and one in both the Czech Republic and Russia, with the majority of its production capacity situated in the Harz region of Eastern-Germany. CRH believes that this acquisition provides a strong platform for future growth.