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PLC Time Pace PLC/Group PLC/Sex Bib# Name Town, State ocalarun.org | Directions to Head To Toe Healthcare, PLC | Head To Toe Healthcare, PLC headtotoehealthcare.org |
CRH plc, (ISEQ: CRH, LSE: CRH, NYSE: CRH, FWB: CRH), is an Irish building material group, formerly called Cement-Roadstone Holdings plc. It is quoted on the Official Lists of the Irish Stock Exchange and London Stock Exchange.
[edit] HistoryThe Company, whose name is an abbreviation of Cement Roadstone Holdings, was formed through the merger in 1970 of Cement Ltd (established in 1936) and Roadstone Ltd (established in 1949).[1] Major acquisitions have included Tilcon, a leading US building materials supplier, in 1996, and Ibstock, a leading British brick manufacturer in 1999.[1] In 2006 CRH struck out from its usual strategy and invested in a cement factory in based in the Heilongjiang region in China.[2] It has built on that presence acquiring a 26% stake in the Jilin Yatai Group and an option to acquire 49% in the future.[3] In 2007 CRH purchased four US companies, worth a total of $350 million (€251 million) to add to its US materials division: these companies are Conrad Yelvington Distributors Inc. (CYDI), Eugene Sand & Gravel, Cessford Construction and McMinn's Asphalt and Prospect Agrregates.[4] In 2008 CRH agreed to buy a 50 percent stake in Indian cement company My Home Industries Ltd. for €290 million ($452 million).[5] Also in 2008 CRH agreed to purchase landscape paver, Pavestone, for $540 million.[6] [edit] MarketsGeographical revenue sources are split almost 50/50 between Europe and the US, product revenues are split evenly between finished building products and raw building products and in type-of-business revenue between new construction and renovation of existing buildings. [edit] Controversies[edit] Operation of a private bank without licenceA tribunal of inquiry set up by the Irish Government to investigate corrupt payments to politicians, discovered that between 1987 and 1994, a private, unlicenced bank had been operated from the registered offices of CRH by its chairman, Des Traynor. It was further found that eight directors of CRH had control of accounts in this bank. These directors were:Tony Barry, James Culliton, Michael Dargan, Gerald Hickey, Diarmuid Quirke, Desmond Traynor, Robert Willis and Richard Wood. The scheme was run in conjunction with Guinness Mahon Bank and Ansbacher Cayman Bank. Its founding purpose was to avoid currency exchange controls, but was later used to facilitate personal tax evasion. [edit] See also[edit] References
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