JUNE-JULY 2018 Nov-Dec 2017 - Copy - Page 13

MERGER & AQUISITION CRH agrees US$3.5bn acquisition of Ash Grove Cement CRH plc, the international building materials group, announces that it has reached an agreement to acquire Ash Grove Cement Company a leading US cement manufacturer headquartered in Overland Park, Kansas, for a total consideration of US$3.5 billion. The transaction is expected to close around year end 2017. Ash Grove operates eight cement plants across eight US states, combined with extensive readymixed concrete, aggregates and associated About CRH CRH is the largest building materials company in North America and the second largest worldwide. The Group has leadership positions in Europe as well as established About Ash Grove Ash Grove is a leader and pioneer in the cement industry. For 135 years, Ash Grove has provided portland and masonry cements to construct highways, bridges, commercial and industrial complexes, single- and multi-family homes, and other important structures fundamental to America’s economic vitality and quality of life. In 2016, Ash Grove shipped 8.2 million tons of cement from eight logistics assets across the US midwest. For the year ended 31 December 2016, Ash Grove reported profit before tax of US$215 million and gross assets of US$2.5 billion strategic positions in the emerging economic regions of Asia and South America. www.crh.com cement plants and two deep-water import terminals located throughout the midwest, Texas and western United States. In addition to cement manufacturing facilities, the company operates 52 readymixed concrete plants, 25 sand and gravel plants, 20 limestone quarries and nine packaged products plants. www.ashgrove.com ABB to acquire GE Industrial Solutions for $2.6 billion ABB announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market. GE Industrial Solutions is headquartered in Atlanta, Georgia, and has about 13,500 employees around the world. The transaction will be operationally accretive in year one. ABB and GE have agreed to establish a long-term, strategic supply relationship for GE Industrial Solutions products and ABB products that GE sources today To acquire GE industrial solutions 2/3 GE Industrial Solutions will be integrated into ABB’s Electrification Products (EP) division, resulting in a unique global portfolio and very comprehensive offering for North American and global customers. They will benefit from ABB’s innovative technologies and the ABB AbilityTM digital offering coupled with GE Industrial Solutions’ complementary solutions and market access. Included in the acquisition is a longterm right to use the GE brand. ABB will retain the GE Industrial Solutions management team and build upon its experienced sales force. About ABB ABB is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. ABB is writing the future of industrial digitalization and driving the Energy and Fourth Industrial Revolutions. ABB operates in more than 100 countries with about 136,000 employees. www.abb.com GE has been transforming industry with software- defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, www.ghmediabusiness.com markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers outcomes for customers by speaking the language of industry. www.GE.com About GE 13