CRH exercises option to buy remaining stake in concrete paving manufacturer

Building materials group CRH has acquired Florida-based concrete paving manufacturer Paver Systems.

CRH, which already owned 50% of Paver, has exercised its option to buyout the remaining stake in the company.

CRH has also acquired 50% of Turkish company Denizli Cement, giving it joint management control of the business. Combined, the two transactions totalled $239m (£147.8m).

CRH chief executive Liam O’Mahony said: “The two transactions are important steps in the further development of our Europe Materials and Americas Products activities.”