CRH has established strategic footholds in China and India over the last eight years. Our strategy is to build select leading regional positions to enable us to benefit from industrialisation, urbanisation and population growth in these developing economies over the coming decades.
The Group has a 26% stake in associate Yatai Building Materials, which is a market leader in building materials in Northeast China. In India, we have a 50% Joint Venture with My Home Industries Limited (“MHIL”) which is a leading player in the southern states of Andhra Pradesh and Telangana. In 2013, we also opened a regional headquarters in Singapore.
During 2015, the opportunity arose for CRH to acquire certain assets from Lafarge S.A. and Holcim Limited for a total enterprise value of €6.5 billion. These assets have leading market positions and produce cement, aggregates, readymixed concrete and asphalt and related construction activities globally. The Asia assets as part of this deal where located in Philippines.
CRH operations in Philippines, China and India employ close to 11,200* people.
*c10,000 employees between China and India. These operations are equity accounted entities