Irish Times 12 Aug 2013
CRH and its Indian joint venture have seen off competition from French rival Vicat to clinch a €175 million deal to buy a cement manufacturing business from conglomerate Shiriam.
The Irish building materials group said yesterday that its 50/50 joint venture in Hyderabad, My Home Industries (MHIL), has agreed to buy cement manufacturer Sree Jayajothi for €175 million.
CRH and MHIL are each putting €35 million towards the cost of the purchase, while the balance will be financed from the Indian company’s existing debt capacity.