CRH (CRH.N), the largest building materials producer in the United States and Europe, announced a $2.1 billion acquisition of building materials assets in the high-growth Texas market on Tuesday and upgraded its full year core profit guidance.
CRH said the assets comprised a 2.1 metric ton capacity cement plant, a network of terminals and 20 readymixed concrete plants which are expected to generate pro-forma 2023 core profit of around $170 million. The deal is due to close in the first half of next year.
The Dublin-based group, which makes about 75% of its profits in the U.S., said in a trading update that it expects full-year earnings before interest, tax, depreciation and amortisation (EBITDA) of $6.3 billion versus the $6.2 billion forecast in August.
Reporting by Padraic Halpin; Editing by Kirsten Donovan
