CRH buys Ukraine cement firm for €96m

Friday 26 April 2013 18.15
CRH agrees new €96m deal in Ukraine
CRH agrees new €96m deal in Ukraine

Building materials group CRH has reached a deal to buy Lafarge-owned Mykolaiv Cement for an upfront cash consideration, including debt, of €96m.

The company said that with the addition of Mykolaiv Cement, located in the Lviv region of Western Ukraine, CRH becomes the market leader in Ukraine.

CRH entered the Ukraine market in 1999 with the acquisition of Podilsky Cement and in 2011 commissioned a dry process kiln at that facility with an annual clinker capacity of 2.3 million tonnes. It bought a majority stake in Odessa Cement in 2011.

The company said that the deal is still subject to the required regulatory approvals.