Building materials group CRH has announced four acquisitions, worth €258m, by its American Materials Division.
Today's announcement follows about €1 billion of acquisition spend in the first half of the year, and means CRH is well on track to spend €2 billion on acquisitions this year.
The group bought Conrad Yelvington Distributors in early September, after it had already purchased Eugene Sand & Gravel, Cessford Construction and McMinn's Asphalt and Prospect Aggregates in August.
Conrad Yelvington is the biggest rail distributor of aggregates in the southeast region of the US and handles 10 million tonnes of materials through a network of 327 rail-served distribution terminals in Florida, Alabama, Mississppi and Michigan, CRH said.
Eugene and Cessford are two integrated aggregates, asphalt, readymixed concrete and paving and construction businesses.
These two firms, who had combined aggregates reserves of 160 million tonnes last year, will aid American Materials Division’s expansion in Oregon, Illinois and, in particular, Iowa, the company said.
McMinn's, which is a vertically integrated materials business based in Pennsylvania, has two quarries, five asphalt plants and four concrete plants.
Davy Stockbrokers said the group is on track to make €2bn in acquisitions this year and said the group continues to acquire aggregates reserves without paying over the odds.
'We expect the acquisitions to add c.0.5c to our 2007 EPS forecast and c.1.5-2.0c to our 2008 estimate', it said in a research note.
Shares in CRH closed down 30 cents in Dublin today at €29.20.