The Spanish cement company
As part of the agreement, Portland has strengthened its stake in Uniland, with further assets in the US and Tunisia, after reaching 100% of Uniland indirectly.
As part of the operation, CRH has exchanged the 26.38% stake Portland does not hold in Uniland, while Portland has given CRH its 98.75% stake of Cementos Lemona. In addition, CRH has agreed to purchase 100% of Southern Cement.
CRH says its earnings for 2012 were better than expected, with earnings before interest, tax, depreciation and amortisation (EBITDA) of €1.6 billion being 2% ahead of forecasts.
As the group announced that its chief executive, Myles Lee, will retire from CRH at the end of 2013 following completion of a five-year term, it also reported revenues at the group advanced by 3% to €18.7 billion, while EBITDA increased by 1% cent on 2011.
