Saturday, December 31, 2005
CRH acquires 26.3% stake in Corporacion Uniland SA
Story CRH plc, the international building materials group, has announced that it has acquired a 26.3% equity stake in Corporacion Uniland SA, a major Spanish manufacturer of cement, ready mixed concrete, mortar and aggregates with additional cement and ready mixed concrete interests in Tunisia, Argentina and Uruguay, for a consideration of approximately EUR 300m.
In Spain, Uniland operates two integrated cement plants in Catalonia, where it is market leader, with total annual cement production capacity of 3.2 million tonnes. It also has extensive ready mixed concrete, mortar and aggregates operations in the region. In Tunisia, Uniland is the majority owner (88%) of a modern 2 million ton capacity cement plant and is also active in ready mixed concrete. Through a 50/50 joint venture with Cementos Molins of Spain, Uniland has strong positions in cement and ready mixed concrete in both Argentina and Uruguay.
In 2004, Uniland produced approximately 5.5 million tonnes of cement, 2 million cubic metres of ready mixed concrete and 2 million tonnes of mortar across its operations. Uniland reported consolidated sales of EUR 423m in 2004 and profit before interest, tax, depreciation and amortisation (EBITDA) of EUR 143m. Operating profit (EBIT) for 2004 amounted to EUR 111m. (Note all figures include proportionate 50% share of South American operations).
Through its wholly owned subsidiary Beton Catalan SA, CRH has had operations in Spain since 1987. Beton Catalan is a significant ready mixed concrete and concrete products manufacturer in the Catalonia region and in addition has strong positions in ready mixed concrete in Madrid and in a number of other regional Spanish markets. With its 49% investment in Secil, a leading Portuguese manufacturer of cement, ready mixed concrete and aggregates, completed in June 2004, CRH already participates in the Tunisian cement market. CRH is also a leading producer of clay roof tiles and floor and wall tiles in Argentina.
Commenting on the transaction, Liam O'Mahony, Chief Executive of CRH plc, said: "CRH is delighted with this investment in Uniland, a company with which our existing Spanish operation has had a long business relationship. We look forward to working constructively with the company into the future."
Source Company press release(s)
Value EUR 300m (purchase price for a 26.3% equity stake )
In Spain, Uniland operates two integrated cement plants in Catalonia, where it is market leader, with total annual cement production capacity of 3.2 million tonnes. It also has extensive ready mixed concrete, mortar and aggregates operations in the region. In Tunisia, Uniland is the majority owner (88%) of a modern 2 million ton capacity cement plant and is also active in ready mixed concrete. Through a 50/50 joint venture with Cementos Molins of Spain, Uniland has strong positions in cement and ready mixed concrete in both Argentina and Uruguay.
In 2004, Uniland produced approximately 5.5 million tonnes of cement, 2 million cubic metres of ready mixed concrete and 2 million tonnes of mortar across its operations. Uniland reported consolidated sales of EUR 423m in 2004 and profit before interest, tax, depreciation and amortisation (EBITDA) of EUR 143m. Operating profit (EBIT) for 2004 amounted to EUR 111m. (Note all figures include proportionate 50% share of South American operations).
Through its wholly owned subsidiary Beton Catalan SA, CRH has had operations in Spain since 1987. Beton Catalan is a significant ready mixed concrete and concrete products manufacturer in the Catalonia region and in addition has strong positions in ready mixed concrete in Madrid and in a number of other regional Spanish markets. With its 49% investment in Secil, a leading Portuguese manufacturer of cement, ready mixed concrete and aggregates, completed in June 2004, CRH already participates in the Tunisian cement market. CRH is also a leading producer of clay roof tiles and floor and wall tiles in Argentina.
Commenting on the transaction, Liam O'Mahony, Chief Executive of CRH plc, said: "CRH is delighted with this investment in Uniland, a company with which our existing Spanish operation has had a long business relationship. We look forward to working constructively with the company into the future."
Source Company press release(s)
Value EUR 300m (purchase price for a 26.3% equity stake )
