Sunday, March 16, 2008

Concrete results Ireland-based CRH PLC, the #2 maker of building materials in the world, announced a deal that boosts it position even further. It will acquire US-based Pavestone Group in a $540-million deal. Pavestone specializes in concrete pavers, retaining walls, and decorative stones used in the construction and landscaping businesses. It sells mostly through retail suppliers, including home centers. The move comes as the US construction industry is the midst of a major downturn. It bolsters CRH's position in the US. It's another example of a vulnerable US-based company being bought out with high-value euros. CRH is Ireland's largest public company. It has spent over $1.7 billion in acquisitions over the last year. CRH is #2 behind France-based Saint-Gobain and ahead of France-based Lafarge SA (which is the world's #1 cement maker).  4:28:43 PM

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