The group will establish a new global Building Products division effective 1 January 2019, bringing together its Europe Lightside, Europe Distribution and Americas Products divisions. Under the leadership of Keith Haas (currently president, Americas Products), this new platform will operate alongside CRH’s Americas Materials and Europe Materials divisions, leveraging the Group’s scale and network opportunities across its global products businesses.
David Dillon (currently president, Europe Lightside & Distribution) will assume a new role of president, Global Strategy & Business Development, reporting to CEO Albert Manifold.
A company press statement said: “Absent any major dislocations in the global economy or the input cost environment, we are targeting to improve the Group’s EBITDA margin by 300 basis points by 2021.
“The Group is strongly cash generative and is targeting to have €7 billion of financial capacity over the next 4 years (after capex and dividends), providing significant opportunities for further value creation for our shareholders.
“We have initiated a strategic review of our Europe Distribution business, focused on improving the margins and returns of the business, as well as exploring other strategic options.”
