Construction News

16/04/2008

CRH Buys Ancon For €109m

Irish building materials group, CRH has agreed to buy Ancon Building Products from Tyco International for a total of €109m.

CRH said the deal is subject to the granting of the required regulatory approvals.

Ancon is headquartered in Sheffield and also has operations in Europe, the Middle East and Australia. It designs and manufactures stainless steel fixing systems and other accessories for the construction industry.

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CRH's existing Construction Accessories business, which was formed in 2003 with the acquisition of Plakabeton, is the market leader in Western Europe with sales in 2007 of over €400 million.

This afternoon, CRH shares were up to €24.10 in Dublin - a gain of 3%.

(VB/JM)

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