CRH spends euro 354m on development

Building supplies firm, CRH, today reported development initiatives totalling euro 354 million in the second half of 2000.

The ISEQ-listed company said these were in addition to the euro 268 million acquisition of the Jura Group of Switzerland announced in November.

The new deals include a euro 18.7 million investment in the ongoing development of CRH's downstream materials activities in Poland and further steps in extending the Finnish operations into asphalt production and paving contracting.

In addition, euro 69.2 million has been spent on a significant regional expansion of the group's Dutch DIY activities together with bolt-on additions for distribution activities in the Paris region, for Belgian pre-cast operations and for CRH's growing Polish clay brick activities.

In North America, euro 69.8 million has been invested in further acquisitions by the Materials Group in the western United States and completion of the fourth bolt-on deal in the Ohio/West Virginia region since the acquisition of The Shelly Company in February 2000.

There has also been euro 196.2 million spent on significant additions for CRH's Precast, Architectural Products and Glass Groups in the United States further consolidating their strong national positions.

On the Dublin market this morning CRH shares were down 37 cents on euro 18.60.