Irish materials giant looking to further expand their current consolidation trend
Irish materials giant CRH is in talks with Cemex that may lead to the £2.2bn acquisition of a series of Cemex assets in the US and Europe.
The move, announced today, is a further indication of consolidation in the materials sector. It follows Cemex’s takeover of Rinker earlier this year, and HeidelbergCement’s acquisition of Hanson.
The assets under discussion include Cemex’s operations in Florida and Arizona, which the US Department of Justice has ruled Cemex must divest for competition reasons following the Rinker takeover.
CRH is also in talks to acquire other Cemex operations including the company’s US pipe business, and its Pacific Northwest materials and products operations. In Europe the assets under negotiation include the San Feliu cement plant in Catalonia in Spain and Cemex's readymixed concrete and aggregates assets in Austria and Hungary.
CRH said depending on which, if any, assets were acquired the price could reach between £1.7bn and £2.2bn.