CRH, who yesterday announced its appointment of a new Chief Executive designate, has purchased a 45% stake in an India-based cement firm.
This, according to the firm, this is the first phase of investment in My Home Industries Limited, located in Hyderabab,
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Plans for the shareholding investment were announced earlier this year.
A CHR Spokesperson said: "The second phase of the transaction for the remaining 5% shareholding is expected to be completed in the next three months."
Today's announcement forms part of a series of acquisitions by the materials group. Already this year the firm invested into a 26% stake in Chinese company Yatai, reportedly worth €0.2bn. Other ventures include a US concrete business and a producer of construction accessories, based in the UK.
See: CRH Appoints New Designate Leaders
(PR/JM)
