CRH PLC CRH agrees $2.1bn acquisition in Texas (0580U)
21 Noviembre 2023 - 1:00AM
UK Regulatory
TIDMCRH
RNS Number : 0580U
CRH PLC
21 November 2023
Press Release
CRH agrees $2.1bn acquisition of materials assets in Texas
CRH plc, the leading provider of building materials solutions,
is pleased to announce that it has reached an agreement to acquire
an attractive portfolio of cement and readymixed concrete assets in
Texas, USA (the "Assets") from Martin Marietta Materials, Inc. for
a total consideration of $2.1 billion. The combined portfolio of
assets is expected to generate pro-forma 2023 EBITDA of
approximately $170 million.
The Assets comprise a 2.1mt capacity cement plant located
between San Antonio and Austin, a network of terminals along the
eastern gulf coast of Texas and a portfolio of 20 readymixed
concrete plants with annual shipments of c.1.6m cubic yards serving
the Austin and San Antonio markets.
Albert Manifold, Chief Executive of CRH, said: "The acquisition
of these high-quality assets further strengthens our market leading
position in Texas and increases our exposure to attractive,
high-growth markets. Our ability to leverage our cement expertise
and technical capabilities will enable us to enhance and optimize
our existing footprint in Texas, resulting in significant synergies
and self-supply opportunities. This transaction reflects our
disciplined approach to capital allocation as well as our
commitment to deliver further growth and value creation for our
shareholders. We also believe there is significant potential to
unlock additional growth opportunities across an expanded footprint
in this attractive growth market".
The proposed transaction is subject to regulatory approval and
is expected to complete in H1 2024.
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Contact CRH at Dublin 404 1000 (+353 1 404 1000)
Albert Manifold Chief Executive
Jim Mintern Chief Financial Officer
Frank Heisterkamp Director of Capital Markets
& ESG
Tom Holmes Head of Investor Relations
About CRH
CRH (NYSE: CRH, LSE: CRH) is the leading provider of building
materials solutions that build, connect and improve our world.
Employing c.75,800 people at c.3,160 operating locations in 29
countries, CRH has market leadership positions in both North
America and Europe. As the essential partner for road and critical
utility infrastructure, commercial building projects and outdoor
living solutions, CRH's unique offering of materials, products and
value-added services helps to deliver a more resilient and
sustainable built environment. The company is ranked among sector
leaders by Environmental, Social and Governance (ESG) rating
agencies. A Fortune 500 company, CRH's shares are listed on the
NYSE and LSE.
Registered Office: No 12965. Registered Office: 42 Fitzwilliam
Square, Dublin 2, R02 R279, Ireland
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