CRH to sell Americas distribution business for €2.2 billion

CRH to sell Americas distribution business for €2.2 billion
CRH's chief executive Albert Manifold Pic: RollingNews.ie

The building materials group also announced a 5% rise in first-half earnings to €1.175 billion

Building materials group CRH has reported continued profit growth in the first half while also announcing the sale of its Americas Distribution business to Beacon Roofing Supply for $2.63 billion (€2.2 billion) in cash.

The division has been part of the group for more than 20 years but CRH said that while it had delivered significant improvement in performance and returns in recent years, the absence of acquisition opportunities and "a lack of visibility as regards a...

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