8-K

CRH PUBLIC LTD CO 8-K Report (Jun 30, 2003)

Filed June 30, 2003For Securities:CRH

Summary

This 8-K filing from CRH Public Ltd Co (CRH) dated June 30, 2003, provides an update on the company's development strategy, highlighting significant acquisition activity during the first half of 2003. CRH announced a range of 19 development initiatives totaling Euro 375 million, bringing the total acquisition spend for the first half of the year to over Euro 550 million. This level of investment is consistent with previous years and demonstrates CRH's continued focus on growth through strategic acquisitions. The majority of this investment, approximately three-quarters, was directed towards North America, with the remaining balance allocated to Europe. The acquisitions span across various business segments, including materials, products, and distribution, indicating a diversified growth strategy. Investors should note that the company expects to see continued development spend in the second half of 2003, underscoring its commitment to expanding its global footprint and market position in the building materials sector.

Key Highlights

  • 1CRH announced 19 development initiatives totaling Euro 375 million in the first half of 2003.
  • 2Total acquisition spend for H1 2003 reached over Euro 550 million, comparable to previous years.
  • 3Approximately 75% of the H1 2003 development spend was focused on North America, with the remainder in Europe.
  • 4Key acquisitions include a Polish lime business, European concrete products, German fencing and accessories, and DIY stores in the Benelux.
  • 5In the Americas, notable acquisitions include aggregate and asphalt businesses in the US, architectural products in the Midwest and Florida, and glass and distribution operations.
  • 6The company anticipates continued strong development spend in the second half of 2003.
  • 7Goodwill arising from these acquisitions totaled Euro 153 million (Euro 19m + Euro 40m + Euro 11m + Euro 74m).

Frequently Asked Questions

The main purpose of this 8-K filing is to update investors on CRH's development strategy, specifically detailing the company's acquisition activities and investment spend during the first half of 2003.

CRH spent over Euro 550 million on acquisitions in the first half of 2003, which included Euro 375 million from 19 new development initiatives and a previously announced Euro 189 million S.E. Johnson transaction.

The majority of the acquisition spend, approximately three-quarters, was directed towards North America, with the remaining balance invested in Europe.

CRH acquired a diverse range of businesses, including lime production, aggregates, concrete products, fencing and security systems, building accessories, DIY stores, architectural products, glass systems, and distribution operations, across both Europe and North America.