BUILDING materials group, CRH, has brought its spending for the year so far to £245 million with a series of acquisitions in Britain, the US and continental Europe. Just over £5 million is, being spent in Britain, £23.5 million in Holland and £26 million, in the US.
Most of the acquisitions have be previously announced, but the £245 million so far this year is already well ahead of the previous record of CRH of £159 million on acquisitions in 1994.
Since the beginning of the year, CRH has added to branches to its Keyline Builders Merchants in Britain at a cost of £5.1 million. The combined trading profits of these new branches last year was £700,000 on sales of £12 million.
In Holland, CRH's Van Neerbos subsidiary has acquired three new Gamma DIY stores at a cost of £8.4 million. It has also acquired a specialist roofing merchant, Van Koeveringen, for £1.9 million. CRH is also spending £10.5 million in a major upgrade of a clay brick factory at Kessel, while its fencing subsidiary, Heras, is investing £2.7 million in new information systems.
In the United States, CRH's Oldcastle Precast Group is investing £3.4 million to increase production at three of its locations in Oregon, Utah and Idaho.
The Architectural Products Group has acquired a precast concrete producer for £2.7 million and is investing £4.1 million in the group's block and paver plant in Atlanta. The building materials group also spent £10.5 million on a readymix and concrete business near Salt Lake City.
