8-K/A

CRH PUBLIC LTD CO 8-K/A Report (Sep 18, 2003)

Filed September 18, 2003For Securities:CRH

Summary

This filing is an amendment to a previous 6-K/A report and concerns a significant acquisition by CRH plc's Materials Division in the Americas, operating under the Oldcastle Materials Group. On May 16, 2003, CRH acquired the stock of S.E. Johnson, a well-established aggregates and asphalt producer based in Toledo, Ohio, for a total cash consideration of $217 million, including assumed debt. After accounting for anticipated asset sales of $40 million, the net cost of the transaction is $177 million. S.E. Johnson operates in key markets across northern Ohio, southeastern Michigan, and northeastern Indiana, boasting 600 million tons of permitted reserves and significant production volumes in aggregates and asphalt. The acquisition is expected to strengthen CRH's market position and reserve base in the crucial Midwest region, with plans to integrate S.E. Johnson into existing CRH entities, Shelly Group and Thompson-McCully. CRH anticipates significant cost savings and a strategic geographic alignment resulting from this acquisition.

Key Highlights

  • 1CRH plc's Materials Division (Oldcastle Materials Group) acquired S.E. Johnson on May 16, 2003.
  • 2The total cash consideration for the acquisition was $217 million, including assumed debt.
  • 3The net cost of the transaction, after anticipated asset sales of $40 million, is $177 million.
  • 4S.E. Johnson is a leading aggregates and asphalt producer with operations in northern Ohio, southeastern Michigan, and northeastern Indiana.
  • 5The acquired company has 600 million tons of permitted reserves and significant production capacity.
  • 6S.E. Johnson will be integrated into CRH's existing Shelly Group and Thompson-McCully businesses.
  • 7The acquisition is expected to enhance CRH's market share and reserve position in the Midwest and generate cost savings.

Frequently Asked Questions

This filing is an amendment to a previous Form 6-K/A and provides updated details regarding CRH plc's acquisition of S.E. Johnson, a major materials business in the US Midwest.

The acquisition involved a cash consideration of $217 million (including debt), with a net cost of $177 million after accounting for expected asset sales of $40 million.

S.E. Johnson is a significant producer of aggregates and asphalt, with additional activities in paving, heavy highway, and bridge construction. Its operations are located in northern Ohio, southeastern Michigan, and northeastern Indiana.

CRH views this acquisition as a unique geographic fit with its current operations in the Midwest. It is expected to strengthen the Materials Division's market position and reserve base in the region and facilitate significant cost savings through integration with existing entities like Shelly Group and Thompson-McCully.