Albert Manifold, chief executive of CRH Plc said the recently acquired Holcim Canadian operations will likely expand in order to feed demand from CHR’s extensive downstream businesses in the United States, reported The Globe and Mail.
Dublin-based CRH agreed to acquire about 6.5 billion euros ($7.36 billion) in assets being sold by rivals Holcim Ltd. and Lafarge SA as part of divestitures in their $40-billion merger (see CRH Buys Holcim, Lafarge Assets). The assets are located in Canada, the Philippines, Brazil and several European countries.
The Holcim operations in Canada being sold include two cement plants, one in Joliette, Quebec, and one in Mississauga, Ontario. Acquisition of the Canadian assets – which still requires regulatory approval – would make CRH the leading building-materials company in eastern Canada, the company said.
A big part of their function will be to provide product to CRH’s integrated U.S. operations, Manifold said in an interview with The Globe and Mail. CRH bills itself as the largest building-materials company in the U.S., with a presence in all 50 states.
“We intend to put more production through these [Canadian] plants,” stated Manifold. “I think we’d be growing this business.”
“We like the country,” proclaimed Manifold. “We like the dynamics.”