CRH set to snap up Finnish concrete products manufacturer

CRH has agreed in principle to acquire Finland's largest manufacturer of concrete products for an undisclosed sum.

The Irish-based building materials group intends to buy Abetoni Oy from the German firm, Heidelberg Cement, through its Finnish subsidiary, Lohja Rudus.

A spokesman for CRH said that the deal was subject to Finnish regulatory approval with a decision expected before the end of this month.

Abetoni Oy recorded annual sales of around E30m last year and employs 240 staff.

CRH acquired Lohja Rudus in 1999. The Finnish subsidiary is active in the ready-mixed concrete, aggregates, asphalt, and environmental technology businesses in Finland, the Baltic countries and Russia.

CRH also owns Finland's largest producer of cement, Finnsementti, which it acquired in 1999 for IR£415m.