CRH to Buy Texas Cement, Concrete Portfolio for $2.1 Billion
21 Novembre 2023 - 8:43AM
Dow Jones News
By Anthony O. Goriainoff
CRH said it will purchase a portfolio of cement and ready-mixed
concrete assets in Texas from Martin Marietta Materials for $2.1
billion.
The Irish building-materials supplier said the assets comprise a
cement plant, a network of terminals located on the Gulf of Mexico,
as well as a portfolio of 20 ready-mixed concrete plants.
The company said the acquisition strengthens its market position
in Texas and increases its exposure to attractive and high-growth
markets, adding the transaction showed significant potential to
unlock additional growth opportunities in the market.
"This transaction reflects our disciplined approach to capital
allocation as well as our commitment to deliver further growth and
value creation for our shareholders," Chief Executive Albert
Manifold said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
November 21, 2023 02:28 ET (07:28 GMT)
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