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CRH targeting assets in US and Eastern Europe?

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World Cement,

The Irish Examiner is reporting that CRH is likely to target acquisitions in the US and Eastern Europe, drawing on a research note published by Davy Stockbrokers following on from a CRH management dinner.

The newspaper quotes Davy’s Barry Dixon, who said that the Americas Materials division ‘appears to remain a key focus for the group’ and added: “We believe that CRH is most likely to be interested in the assets in Eastern Europe, but we would not rule out it looking at the German assets, as part of its broader vertical integration strategy”. This refers to assets up for sale as part of the Lafarge-Holcim merger. Though CRH has kept quiet on its intentions regarding the Lafarge-Holcim divestments, it is believed that it is in a good position to make a bid.

Throughout the financial downturn, CRH has focused on streamlining its portfolio, divesting non-core assets and making key acquisitions. Davy Stockbrokers reports that the company could spend up to €3.5 billion over the next two to three years and still maintain its investment grade rating.

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