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CRH spent €200m on first-half deals

CRH update - Buying VMM Group
CRH update - Buying VMM Group

Building materials group CRH says it spent around €200m on acquisitions and investments in the first half of this year. This is up from €133m in the same period last year.

CRH also said its Europe materials division had reached agreement to buy the family-owned VVM Group of businesses, which operates cement and concrete plants in Belgium and France.

If this deal is approved by regulators, it would bring CRH's total first-half spending to €300m.

Chief executive Myles Lee said the VVM deal was 'an important strategic opportunity' for its existing Cementbouw business in the Benelux countries.

The first-half deals included one buy in the Europe materials division, four in the European products and distribution arm, seven in the America materials business and four in the America products and distribution arm.

Mr Lee also said that CRH made €345m from the sale of some businesses and assets in the first half of 2010.