CRH/Oldcastle sells APAC contracting units

(Morrison, Colorado) — Although unconfirmed it is rumoured that, CRH/Oldcastle which purchased APAC (Ashland Paving and Construction) for $US1.3 billion last month, has already commenced selling the assets relating to the asphalt contracting business units.These include operations in Central and Southern Florida, all of the East Coast (Virginia, North Carolina and South Carolina). The Georgia Division has been sold to C.W. Matthews, a contracting company with locations inmetro Atlanta and North Georgia. Negotiations are underway for the Texas based operations.It appears the CRH/Oldcastle strategy with the sale of these operations is to become more inline with aggregate supply as a “construction materials” company rather than a “construction and materials” company.

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