Holders/Followers will be well aware of this weeks painful retreat in the SP - following RNS that US sales are disappointing.
This mornings Irish "Sunday Independent" runs an article which concentrated on CRH's heavily supported fund raising in 2009 which provided it with a substantial warchest. One which apparently is not being put to 'good' use - apart from a smallish £19m purchase of a Chinese
The article which may have been inspired by a disaffected (how polite I am) institutional investor overtly draws attention to the neeed for the BOD to get cracking with its powerful paper and cash to buy relatively bargain basement assets which remain in the international market place.
CRH has had a nibble in China where the growth story for cement sales is plainly amazing though not all regions are growing at the same rate. Cement is central to not only quality accommodationbut but transport infrastructure too. There is a visibly undervalued cement company quoted (strangely only) in the UK which is going gangbusters in Western China which has some catching up to do in terms of regional development - recognised by the Chinese nomenclatura whose capital investment programmes are formulated to address the infrastructural imbalances.
Time was CRH looked for cash cows and they were mostly in the US. China still looks like an opportunity to me. and its a lot easier than the old ways.
So! What next CRH??????????