CRH divests US business
First publishedon www.AggBusiness.com
US-based Ivy Steel and Wire has been sold by CRH to Insteel Industries for €37million, CRH has announced.
CRH said that the company which manufactures welded wire reinforcement and wire products for concrete construction applications is not a core part of its business and was acquired by CRH as part of MMI in 2006. CRH chief executive Myles Lee said, “We are pleased to have sold Ivy to a strong industry player.”
The news follows on from an announcement by CRH last week about the sale of its insulation business in Europe fro €120million to Kingspan.