Oldcastle parent CRH Plc is set to acquire Ohio-based Barrette Outdoor Living Inc., a leading player in steel, aluminum and vinyl fencing, railing, gate and accent products for residential and commercial applications. It sells and distributes through big box or independent home improvement retail channels and specialty outdoor product dealers. “Barrette is an excellent addition to CRH,” says Chief Executive…
Read MoreThe ink had dried on September’s column, “Oldcastle-style capital reallocation,” by the time CRH Plc announced the boldest move in almost four decades centered on Oldcastle Inc., its North American business: A $3.5 billion acquisition of Kansas-based Ash Grove Cement Co., scheduled to close by year end.
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Oldcastle Inc. parent CRH plc has announced the year end retirement of Mark Towe from the board of directors, while continuing in his role as CRH Americas chairman. Towe joined the global concrete, aggregates and cement producer in 1997 and was appointed a director in 2008.
Read MoreSources: CRH Plc, Dublin; CP staff
Crunching numbers on deals affecting operations in North America, Europe and Asia, CRH closed 2015 with about $8.8 billion in acquisitions, and divestments netting proceeds near $1 billion. Anchoring the calendar was a $7.2 billion transaction for the lion’s share of cement, concrete and aggregate production assets Lafarge S.A. and Holcim Ltd. sold in conjunction with their July merger.
Read MoreThree developments tracked since January stand out at year’s end: 1) overall concrete shipments did not pace projected level; 2) among global operators, the annual revenue bar for cement, aggregate and ready mixed concrete shipments is moving from the $10 billion–$15 billion to $15 billion–$20 billion range, with the top players deriving about 20–25 percent of sales in North America; and, 3) U.S. and Canadian wood interests’ multi-story building market pursuits are reverberating among ready mixed and manufactured-concrete producers.
Read MoreSource: CRH Plc, Dublin
Oldcastle Inc. President and CEO Mark Towe will assume a new role in January, CRH Americas chairman, working with CRH Chief Executive Albert Manifold to support performance and excellence programs across the group, and continuing as an executive director. Towe joined Atlanta-based Oldcastle in 1997, and advanced in the Materials hierarchy with appointment as president in 2000 and chief executive officer in 2006. Two years later, he was elevated to his current position and attendant CRH board post.
Read MoreIn less than four weeks after its creation, LafargeHolcim Ltd. executed major asset sales per agreements with regulators in North America and overseas markets.
Sources: CRH Plc, Dublin; CP staff
CRH has closed on a portfolio of Lafarge S.A. and Holcim Ltd. cement, concrete and aggregate production assets in 10 countries across the Americas and Europe. At a $7.2 billion enterprise value, the transaction is among the largest to date involving publicly traded, global heavy building materials companies—trailing Cemex-Rinker and HeidelbergCement-Hanson ($15 billion–$16 billion; 2007) and Lafarge-Orascom ($12 billion, 2008).
Read MoreSources: CRH Plc, Dublin; CP staff
CRH Group Finance Director Maeve Carton will shift to a new assignment in January 2016: Identifying and implementing the optimum financial and business model for the future. Her appointment as group transformation director marks a rare increase in executive headcount for the Oldcastle Inc. parent, which through decades of global growth has confined its headquarters to the historic Belgard Castle near Dublin.
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