CRH committed to further expansion through near US$900mn deal for South Korean aggregate producer

723 CRH, the globally renowned construction materials producer, is reportedly looking to spend nearly US$900 million to purchase the second largest aggregate producer in South Korea, Tongyang Cement and Energy. The company is working with 3059 Goldman Sachs to  make the bid, according to The Irish Examiner.

CRH chief executive Albert Manifold said in May 2015 that the company has the strongest acquisition pipeline it’s had for a long time. And the company is taking advantage of it with a separate potential deal in the United States worth over $1 billion.

The company could end up spending nearly $9 billion on acquisitions in 2015. However, Manifold said the company usually only goes forward with about 10 percent of the deals they consider.

CRH already agreed to pay $7.4 billion back in February of this year for assets 680 Holcim and 725 Lafarge were required to divest leading up to their merger to become the world’s largest aggregate producer, LafargeHolcim. CRH is set to take over Holcim and Large assets in the Americas, Europe and Asia.