CRH Public Limited Company supplies building materials used in infrastructure and construction projects. Company news commonly covers operating and financial results, annual reporting, proxy materials, and shareholder voting matters, along with capital allocation updates such as ordinary share repurchases.
CRH updates also include capital-structure and listing matters. The company completed the cancellation of its London Stock Exchange listings for ordinary shares and 7% preference shares, and its ordinary shares are now solely listed on the New York Stock Exchange under the ticker CRH.
CRH has confirmed it is actively engaged in discussions regarding the potential sale of its Building Envelope business, responding to recent media speculation. The company has indicated that further updates about this potential divestment will be provided as necessary. This move could impact the company's strategic focus and financial structure in the future.
KPS Capital Partners has signed an agreement to acquire Oldcastle BuildingEnvelope Inc. from CRH for approximately $3.45 billion. The transaction, expected to close in mid-2022, will enhance KPS's portfolio by adding North America's leading manufacturer of architectural hardware and glazing systems. OBE operates 84 facilities and employs over 6,700 people across the U.S. and Canada. Both KPS and OBE management express confidence in the partnership to drive future growth and operational excellence.
CRH's subsidiary, Oldcastle APG, has acquired the recycling and mulch operations of South Jersey Agriculture Products (SJAP) as of December 2021. This strategic acquisition enhances Oldcastle APG's production capacity and reinforces its market share within the Mid-Atlantic region, elevating its lawn and garden category. SJAP's offerings, made entirely from recycled materials, align with sustainability goals by promoting soil health and outdoor aesthetics. This move continues Oldcastle APG's expansion strategy following recent acquisitions aimed at bolstering its landscape materials position.
CRH has completed the latest phase of its share buyback program, returning an additional $0.3 billion to shareholders. From September 30 to December 23, 2021, the company repurchased 5.8 million shares at an average discount of 0.73%. The total cash returned to shareholders since the program began in May 2018 has reached $2.9 billion. A new buyback of up to $300 million will commence on December 24, 2021, concluding by March 30, 2022, aimed at reducing share capital in accordance with company authority.
CRH PLC reported a robust trading update for the nine months ending September 30, 2021, with sales up 11% year-over-year at $22.8 billion and an EBITDA increase of 15% to $3.9 billion. The strong financial performance is attributed to solid demand and effective pricing strategies across key markets, alongside margin expansion. The company anticipates a full-year EBITDA exceeding $5.25 billion and plans further share buybacks, having completed $0.8 billion year-to-date. Positive trends in construction and infrastructure investment bolster CRH's outlook.
On November 3, 2021, CRH company Oldcastle APG announced the acquisition of Pebble Technology International, known for its premium aggregate swimming pool finishes. This strategic acquisition enhances Oldcastle APG's position in the outdoor living category, complementing existing products like Belgard® pavers and MoistureShield™ decking. With a robust history of quality and customer service, PebbleTec reinforces CRH's integrated solutions for architects and builders. The acquisition aligns with Oldcastle APG's growth strategy, continuing its recent trend of expanding through targeted purchases.
CRH plc has appointed Mr. Badar Khan as a non-executive Director, effective October 27, 2021. Mr. Khan, holding dual British and US citizenship, is currently the President of National Grid US and has extensive experience in capital-intensive industries, particularly regarding climate change solutions. His background includes significant roles at National Grid and Centrica plc. The Chairman of CRH, Richie Boucher, expressed optimism about Mr. Khan's contributions to the Board, emphasizing his deep knowledge of the North American business and regulatory environment.
Oldcastle Infrastructure, a CRH Company, has acquired National Pipe & Plastics, enhancing its PVC pipe offerings. National, headquartered in Endicott, New York, has over 50 years of expertise in providing solutions for potable water, wastewater, electrical conduit, and drainage markets. This acquisition allows Oldcastle to deliver integrated solutions across critical utility infrastructures. With growing demand for PVC due to its sustainability benefits, the strategic move aims to strengthen market position and customer value.
CRH plc has completed a $0.3 billion share buyback, returning cash to shareholders. From June 30 to September 27, 2021, 6 million shares were repurchased at an average discount of 0.91%. This buyback raises the total cash returned to $2.6 billion since May 2018. The latest buyback will commence on September 30, 2021, through UBS and is projected to conclude by December 23, 2021. The goal is to reduce share capital under the authority granted at the AGM. Repurchased shares will be held in treasury pending cancellation or re-issue.
CRH PLC reported strong first-half performance with sales revenue reaching $14.0 billion, reflecting a 15% increase from the previous year. EBITDA surged by 25% to $2.0 billion, driven by margin expansion across all divisions. The company's operating cash flow improved by 55% to $1.6 billion, supporting an interim dividend hike of 4.5% and share buybacks. With $1.1 billion in growth investments year-to-date, CRH anticipates second-half EBITDA to surpass last year's record.