A worker atop the 37-story Fairmont Hotel in downtown Austin, Texas. Oldcastle Materials supplied concrete for the construction of the luxury hotel.
CRH A worker atop the 37-story Fairmont Hotel in downtown Austin, Texas. Oldcastle Materials supplied concrete for the construction of the luxury hotel.


CRH, the international building materials group based in Ireland and parent of Oldcastle, will buy Ash Grove Cement Co., a concrete and cement manufacturer with headquarters in Overland Park, Kan,, for $3.5 billion. The proposed transaction is subject to Ash Grove shareholder and regulatory approvals and will be financed through existing financial resources. The transaction is expected to close around year end 2017.

Ash Grove operates eight cement plants across eight states, combined with extensive ready-mix concrete, aggregates and associated logistics assets across the Midwest.

In 2016, Ash Grove reported profit before tax of $215 million and gross assets of $2.5 billion.

Albert Manifold, Chief Executive of CRH, commented: Ash Grove is an excellent addition to CRH’s portfolio of businesses across North America as we seek to deploy our capital into high quality businesses that enhance our global asset base and provide opportunities to create shareholder value. We welcome the Ash Grove team to CRH and look forward to further developing our longstanding relationship as part of one company.”

Charlie Sunderland, Chairman of the Board of Ash Grove, added: “CRH, as our largest customer, has enjoyed a close and highly productive relationship with Ash Grove for many decades. The Board of Directors believes that CRH will be able to bring Ash Grove on the next phase of its development after 135 years in operation and over a century under the stewardship of the Sunderland family”.

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