CRH plc, the international building materials group, announces that it has reached agreement with Tyco International Ltd. to acquire Ancon Building Products for a total cash consideration of Stg£88 million (euro 109 million). Completion of the transaction is subject to the granting of the required regulatory approvals.
Ancon, which is headquartered in Sheffield and also has operations in continental Europe, the Middle East and Australia, designs and manufactures a range of stainless steel fixing systems and other accessories for the construction industry. In 2007 Ancon earned EBITDA of Stg£12.9 million on sales of Stg£54.5 million.
CRH’s existing Construction Accessories business, which was formed in 2003 with the acquisition of Plakabeton, is the market leader in Western Europe with sales in 2007 of over euro 400 million.
| 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 |