CRH acquires 26.3% of major Spanish cement producer
30 December 2005
CRH plc, the international building materials group, announces that it has acquired a 26.3% equity stake in Corporación Uniland S.A. (Uniland), a major Spanish manufacturer of cement, readymixed concrete, mortar and aggregates with additional cement and readymixed concrete interests in Tunisia, Argentina and Uruguay, for a consideration of approximately euro 300 million.
In Spain, Uniland operates two integrated cement plants in Catalonia, where it is market leader, with total annual cement production capacity of 3.2 million tonnes. It also has extensive readymixed concrete, mortar and aggregates operations in the region. In Tunisia, Uniland is the majority owner (88%) of a modern 2 million ton capacity cement plant and is also active in readymixed concrete. Through a 50/50 joint venture with Cementos Molins of Spain, Uniland has strong positions in cement and readymixed concrete in both Argentina and Uruguay.
In 2004, Uniland produced approximately 5.5 million tonnes of cement, 2 million cubic metres of readymixed concrete and 2 million tonnes of mortar across its operations. Uniland reported consolidated sales of euro 423 million in 2004 and profit before interest, tax, depreciation and amortisation (EBITDA) of euro 143 million. Operating profit (EBIT) for 2004 amounted to euro 111 million. (Note all figures include proportionate 50% share of South American operations).
Through its wholly owned subsidiary Beton Catalan S.A., CRH has had operations in Spain since 1987. Beton Catalan is a significant readymixed concrete and concrete products manufacturer in the Catalonia region and in addition has strong positions in readymixed concrete in Madrid and in a number of other regional Spanish markets. With its 49% investment in Secil, a leading Portuguese manufacturer of cement, readymixed concrete and aggregates, completed in June 2004, CRH already participates in the Tunisian cement market. CRH is also a leading producer of clay roof tiles and floor and wall tiles in Argentina.
Commenting on the transaction, Liam O’Mahony, Chief Executive of CRH plc, said:
“CRH is delighted with this investment in Uniland, a company with which our existing Spanish operation has had a long business relationship. We look forward to working constructively with the company into the future.“
Contact CRH at Dublin 404 1000 (+353 1 404 1000)
|Liam O'Mahony, || Chief Executive |
|Myles Lee, || Finance Director |
|Éimear O'Flynn, || Head of Investor Relations |
|Maeve Carton, || Group Controller |