CRH PLC
02 May 2006
NEWS RELEASE
May 2, 2006
CRH ACQUIRES LEADING EUROPEAN PRODUCER OF
CONSTRUCTION ACCESSORIES
CRH plc, the international building materials group, announces that it has
acquired the Halfen-Deha Group (Halfen), a leading European producer of metal
construction accessories used in commercial, civil engineering and residential
construction for a cash consideration, including debt acquired, of approximately
€170 million. Intangible assets, largely goodwill, arising on this deal amount
to approximately €100 million.
Halfen, which was founded in 1929, produces a range of construction accessories
including anchoring technology, facade fixing systems, reinforcement
accessories, transport anchor systems and framing systems. Its products are used
both in precast and on-site applications, primarily in the new-build
non-residential and infrastructure sectors. Halfen's product range of engineered
construction accessories is sold directly to contractors and precast plants
rather than through builders merchants.
In 2005, profit before interest, tax, depreciation and amortisation (EBITDA) for
Halfen amounted to €22 million on sales of €190 million.
Halfen employs approximately 1,300 people in 16 countries and operates from a
network of six modern production sites comprising two in Germany and one each in
Poland, the Netherlands, Sweden and Malaysia, while its product range is
brought to market through a sales network covering 42 countries world-wide. The
MMI business which CRH acquired last week is a main distributor of Halfen
products in the United States . Halfen's strong brand name and reputation for
product quality as well as its geographical spread represent an important
addition to the Construction Accessories platform of Europe P&D. Halfen's
extensive distribution network provides opportunities for further growth and
development of CRH's existing range of construction accessories.
Commenting on the transaction, Liam O'Mahony, Chief Executive of CRH said:
'Halfen is an excellent fit with our existing Construction Accessories business
making CRH the market leader in Europe in this sector with combined sales of
over euro 330 million and introducing further breadth to our distribution
network. Halfen's track record of product quality makes it a first choice of
many end-users in the construction business. The acquisition strengthens our
successful Construction Accessories business in Western Europe and expands the
opportunities for co-operation between this business and our new MMI platform
business in the United States which is itself a significant player in this
sector.'
Contact CRH at Dublin 404 1000 (+353 1 404 1000)
Liam O'Mahony, Chief Executive
Myles Lee, Finance Director
Eimear O'Flynn, Head of Investor Relations
Maeve Carton, Group Controller
CRH plc, Belgard Castle , Clondalkin, Dublin 22, Ireland
TELEPHONE +353.1.4041000 FAX +353.1.4041007
E-MAIL mail@crh.com WEBSITE www.crh.com Registered Office, 42 Fitzwilliam
Square , Dublin 2, Ireland
This information is provided by RNS
The company news service from the London Stock Exchange
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