Latest News


Keyword Search

CRH buys 50 pct stake in American Cement Co for 50 mln usd

Aug, 01 2006


 

(LONDON) - CRH PLC, the Irish-based building materials group, said its US unit Oldcastle Materials Inc has taken a 50 pct stake in American Cement Co LLC (ACC) for 50 mln usd in cash. CRH said the remainder of the company is held by the shareholders of Trap Rock Industries, a construction materials and contracting company in New Jersey. The group said ACC has been formed to develop and run a cement plant in central Florida with an annual capacity of 1.1 mln tonnes. The plant is due to start production in late 2008. 'The outlook for the Florida construction sector is excellent and, with up to 40 pct of total annual cement consumption in the state currently being imported, we believe there is real need for the local production capacity which ACC's new facility will add,' said Oldcastle chief executive Tom Hill.

Bookmark and Share
Comments
0 Comment(s)
Add Your Comments


UltraTech’s annual profit down

India: UltraTech Cement, part of the Aditya Birla Group, has announced that its net profit declined year-on-year by 19% to US$351m in 2013-2014. This marks the company's first fall in profit for five years and was attributed to rising input costs and sluggish sales. More

Construction on 200 UK infrastructure projects due to commence

The UK’s Prime Minister, David Cameron, and the Chancellor of the Exchequer, George Osborne, visited a transport infrastructure project this week where they outlined upcoming infrastructure investment. More

Advertise Here