CRH ‘uniquely positioned’ to capitalise on opportunities

BUILDING materials giant CRH announced the successful transition of its primary listing to the New York Stock Exchange (NYSE) last week, which marks a historic milestone for the group.

Headquartered at Belgard Castle, the group decided earlier this year to shift its primary listing to New York and also opted for a secondary listing in London.

CRH shareholders approved the move from Dublin to Wall Street at an EGM in June.

CRH is the largest building materials supplier in the US and generated about 75 per cent of its core earnings there last year.

The group believe a US primary listing will bring increased commercial, operational and acquisition opportunities for the business.

North America is expected to be a key driver of future growth for CRH due to continued economic expansion, a growing population and significant construction needs.

As the leading building materials solutions business in North America, CRH believes it is “uniquely positioned” to capitalise on strong growth opportunities in the US construction market, underpinned by “long-term structural tailwinds from federal, state and municipal funding support.”

Albert Manifold, Chief Executive of CRH, said:

“Today marks an important milestone in CRH’s development which will enable us to fully participate in the significant growth opportunities that lie ahead for our business”.

For full access to all content on Echo.ie and to support the continuation of local news and local journalism in your community subscribe HERE.

Thanks for your ongoing support.