Ireland: CRH has revealed a 2014 acquisition and investment spend of Euro190m, reflecting the completion of 21 transactions. On the divestment front, the group completed 16 transactions and realised total disposal proceeds of Euro350m.
"In August 2014 we announced a multi-year Euro1.5 – 2.0bn divestment programme; the proceeds of Euro350m generated in 2014 demonstrate that this programme is well underway," said Albert Manifold, CRH chief executive. "With a refined portfolio focus, the group is now well-positioned to pursue acquisitions that are in line with our long-term growth strategy. The 21 transactions completed during 2014 primarily comprise bolt-on acquisitions for our existing operations in the Americas, together with the expansion of our builders merchanting network in Europe."
The disposal of CRH's 50% equity stake in Denizli Çimento, its only involvement in Turkey, was the largest single divestment in 2014, realising proceeds of Euro170m.