Menu
17/09/2007
CRH In Munti-Billion Euro Talks With Cemex
International buildings group CRH has announced that it is planning to buy assets from Mexican cement company Cemex.
The deal, which has been valued at between $3.5 and $4.5 billion, could be one of the biggest ever in Irish corporate history.
Assets currently under negotiation include those in Florida and Arizona, in the United States. Cemex took over Australian rival Rinker for $14.25bn earlier this year, and as a result the US Department of Justice has required Cemex to sell the Florida and Arizona operations.
Cemex, which has concrete pipe businesses in the US, with all the materials and products operations in Utah, Wyoming, Nebraska, New Mexico, and El Paso and Texas. The aggregates division operates in Kentucky, the cements plants in Pennsylvania, and Ohio, and its gypsum wallboard distribution business in Florida.
Cemex also has assets under negotiation in Spain, Austria and Hungary.
A statement released by CRH today said: "Depending on the scale of businesses included in any potential deal, and the outcome of due diligence, a transaction size in the range of $3.5 billion and $4.5 billion is possible."
Last week CRH announced four acquisitions, worth €258m, by its American Materials Division.
(JM)
The deal, which has been valued at between $3.5 and $4.5 billion, could be one of the biggest ever in Irish corporate history.
Assets currently under negotiation include those in Florida and Arizona, in the United States. Cemex took over Australian rival Rinker for $14.25bn earlier this year, and as a result the US Department of Justice has required Cemex to sell the Florida and Arizona operations.
Cemex, which has concrete pipe businesses in the US, with all the materials and products operations in Utah, Wyoming, Nebraska, New Mexico, and El Paso and Texas. The aggregates division operates in Kentucky, the cements plants in Pennsylvania, and Ohio, and its gypsum wallboard distribution business in Florida.
Cemex also has assets under negotiation in Spain, Austria and Hungary.
A statement released by CRH today said: "Depending on the scale of businesses included in any potential deal, and the outcome of due diligence, a transaction size in the range of $3.5 billion and $4.5 billion is possible."
Last week CRH announced four acquisitions, worth €258m, by its American Materials Division.
(JM)
Related Irish News Stories
Click here for the latest headlines.
03 September 2012
CRH To Cut 55 Posts
Building materials firm CRH is to axe 55 jobs at its Irish Cement plant in Limerick. The company said the restructuring follows five years of decline in the Irish construction industry, with activity down 80 per cent from a peak in 2007. It is believed the plan will be discussed with employees and unions over the coming days.
CRH To Cut 55 Posts
Building materials firm CRH is to axe 55 jobs at its Irish Cement plant in Limerick. The company said the restructuring follows five years of decline in the Irish construction industry, with activity down 80 per cent from a peak in 2007. It is believed the plan will be discussed with employees and unions over the coming days.
04 March 2010
Profits Slump At CRH
One of Ireland's biggest building companies has reported a 55% drop in pre-tax profits for 2009. However, the results posted by building materials group, CRH were still ahead of many analyst expectations. Profits for the year stood at €732m for the firm, compared to €1.6bn for 2008. Revenues fell by 17% to €17.
Profits Slump At CRH
One of Ireland's biggest building companies has reported a 55% drop in pre-tax profits for 2009. However, the results posted by building materials group, CRH were still ahead of many analyst expectations. Profits for the year stood at €732m for the firm, compared to €1.6bn for 2008. Revenues fell by 17% to €17.
16 January 2020
Cars & Jewellery Among Items Seized In CAB Raids
Cars, jewellery and financial accounts in excess of €30,000 are among the items that have been seized in Criminal Assets Bureau (CAB) raids linked to organised crime in Dublin.
Cars & Jewellery Among Items Seized In CAB Raids
Cars, jewellery and financial accounts in excess of €30,000 are among the items that have been seized in Criminal Assets Bureau (CAB) raids linked to organised crime in Dublin.
16 July 2019
Man Arrested As Part Of Investigation Into Terrorist Financing
A 24-year-old man has been arrested as part of an investigation into money laundering and terrorist financing. Gardaí are said to have detained the man in Dublin this morning, Tuesday, 16 July.
Man Arrested As Part Of Investigation Into Terrorist Financing
A 24-year-old man has been arrested as part of an investigation into money laundering and terrorist financing. Gardaí are said to have detained the man in Dublin this morning, Tuesday, 16 July.
09 January 2019
Houses And Businesses Searched In Co Monaghan Operation
Six houses and two businesses have been raided in a major garda operation in County Monaghan.
Houses And Businesses Searched In Co Monaghan Operation
Six houses and two businesses have been raided in a major garda operation in County Monaghan.
-
Ireland WeatherToday:Storm Bert will move east through the Northern Isles today. Though weakening it will still bring strong to gale winds to many in Northern Ireland and showers to all, these frequent, occasionally heavy across northern districts. Maximum temperature 10 °C.Tonight:Strong west to northwest winds easing overnight. Showers, most frequent during the evening and in north but dwindling overnight to leave most dry and bright come dawn. Minimum temperature 1 °C.
