CRH has announced that its €700million investments during the first half of 2008 have strengthened its business

According to a statement from Ireland-based CRH, investment in new business areas over the last six months has helped to consolidate and strengthen its operation in developing markets. The company has invested around €700million in the first half of this year in bolt-on acquisitions to expand the company’s business and provide vertical integration.

In Europe, the company has developed its materials, products and distribution divisions with a total of 16 acquisitions with a market value of €224million. In its Americas region CRH has invested €117million through 19 acquisitions and one joint venture buyout. The company has also moved into the Indian market with a shareholding in My Home Industries.

The company’s acquisitions in the aggregates market in Europe have provided CRH with access to significant new reserves and additional sales of around €18million per year. The expansion included buyout of quarries in Poland, Spain and Turkey.

In January, the company acquired Osielec, a sandstone aggregates producer located 70km south of Krakow. With annual sales of €5million, Osielec complements CRH’s existing crushed rock business in the southwest of the country and secures substantial deposits of aggregates in a fast-growing market.

The company also strengthened its aggregates and ready mixed concrete business in Spain through the acquisition of Moron Quarry. Located near Seville, the acquisition secures good quality aggregates reserves in Andalusia providing in-house supply to our downstream concrete operations in the region.

In January, Basaran, a ready mixed concrete and aggregates business located in Antalya, southern Turkey was acquired by CRH’s 50% Denizli joint venture. With a high quality quarry, two ready mixed concrete locations and annualised sales of €8million, the acquisition furthers Denizli’s strategy of developing its downstream operations in Turkey.

CRH also expanded its downstream businesses with acquisition of Hungary-based precast concrete manufacturer Ferrobeton, Ireland’s Concrete Stairs Systems and Netherlands-based paver and tile manufacturer Jonker Beton. Other buyouts through its products division in Europe include Belgian temporary fencing specialist Hela, roller shutter manufacturer SWS and several businesses to expand its construction accessories operations.