Press Releases


Filter by year:


CRH acquires 49% of Portuguese building materials producer Secil

03 June 2004

CRH plc, the international building materials group, is pleased to announce that, following the decision by the European Commission on May 28 to clear the transaction, it has concluded the purchase of a 49% stake in Secil, a major Portuguese manufacturer of cement and readymixed concrete.

As previously announced, the investment is based on an agreed enterprise value of €900 million for 100% of Secil. Following the payment of a dividend by Secil to its former 100% shareholder Semapa, net debt at closing was €220 million. The cash consideration for CRH’s 49% share of Secil amounted to €333 million, on which goodwill of €45 million arises. CRH and Semapa have also concluded an agreement under which they will have joint management control of Secil.

Commenting on the completion of the transaction, Liam O’Mahony, Chief Executive of CRH plc, said:

“With the acquisition of a 49% stake in this €900 million business, our Europe Materials Division now has a leadership position in the attractive Portuguese cement market, which has traditionally had high per capita consumption. This significant investment also provides development opportunities in Tunisia, where Secil is a prominent producer of cement, and in Lebanon where Secil has an investment in an associated undertaking. The partnership between CRH and Semapa will result in a strong combination of knowledge, experience and resources which should facilitate the expansion of Secil’s businesses across the industry supply chain, particularly as the general economy in Portugal recovers and construction activity increases.”


Contact CRH at Dublin 404 1000 (+353 1 404 1000)

Liam O’Mahony Chief Executive
Myles Lee Finance Director
Declan Doyle Managing Director, Europe Materials
Maeve Carton Group Controller

All news