CRH divests US business

US-based Ivy Steel and Wire has been sold by CRH to Insteel Industries for €37million, CRH has announced. CRH said that the company which manufactures welded wire reinforcement and wire products for concrete construction applications is not a core part of its business and was acquired by CRH as part of MMI in 2006. CRH chief executive Myles Lee said, “We are pleased to have sold Ivy to a strong industry player.” The news follows on from an announcement by CRH last week about the sale of its insulation busin
March 29, 2012 Read time: 1 min

US-based Ivy Steel and Wire has been sold by 723 CRH to 4566 Insteel Industries for €37million, CRH has announced.

CRH said that the company which manufactures welded wire reinforcement and wire products for concrete construction applications is not a core part of its business and was acquired by CRH as part of MMI in 2006. CRH chief executive Myles Lee said, “We are pleased to have sold Ivy to a strong industry player.”

The news follows on from an announcement by CRH last week about the sale of its insulation business in Europe fro €120million to 4567 Kingspan.

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