Reports out this morning speculate that Irish building materials giant CRH will make a bid for the clay tile business of German rival HeidelbergCement.

The German company has been cited in the Financial Times Deutschland as saying it may sell its clay tile business as the company concentrates on cement and aggregates such as gravel and sand.

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HeidelbergCement's Chief Executive Bernd Schiefele told the paper that he is unhappy the company's market position in America, where half of the company's sales originate.

The sale of the business would help HeidelbergCement meet its goal for reducing debt to €11bn from €12.4bn by the end of the year, FTD said.

However, CRH, which has spent over €2bn per annum over the past few years on acquisitions, said it won't comment on market speculation of this type.

(VB/JM)