Dublin based CRH plc, the international building materials group, has announced that it has reached agreement to acquire Lafarge-owned Mykolaiv Cement for an upfront cash consideration, including debt assumed, of €96 million.

Completion of the transaction is subject to the granting of the required regulatory approvals.

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With the addition of Mykolaiv Cement, located in the Lviv region of Western Ukraine, CRH becomes the market leader in Ukraine, allowing it to further leverage the benefits of the new Podilsky factory.

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

(CD)