CRH Completes $2.1bn Acquisition of Cement and Concrete Assets in Texas
Irish building materials giant CRH has officially completed the acquisition of cement and concrete assets in Texas for $2.1 billion (€1.95bn).
Irish building materials company CRH has finalized the purchase of cement and concrete assets in Texas, United States, for $2.1 billion (€1.95bn). The acquired assets consist of a 2.1 metric tonne capacity cement plant situated between San Antonio and Austin, a series of terminals along the eastern gulf coast of Texas, and a collection of 20 ready-mixed concrete plants serving the Austin and San Antonio markets.
These assets are projected to generate approximately $170 million (€158m) in pro forma 2023 earnings before interest, taxes, depreciation, and amortization (Ebitda). The acquisition is expected to enhance CRH's position in the Texas market and expand its presence in the United States. The company, which is headquartered in Dublin, delisted from the Dublin market in September as part of a reorganization that saw its primary stock market quotation move from London to New York.
Source: The Irish Times
