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| CRH to acquire 50% interest in My Home Industries Limited, India Irish building materials giant CRH announces that it has signed an agreement to acquire a 50% shareholding in My Home Industries Limited ("MHIL"), a privately-owned cement company with its head office in Hyderabad, India. CRH's total investment will be €290 million. CRH and the existing owners will jointly manage MHIL and both parties will have equal Board and management representation. The transaction is expected to be completed during the second quarter of 2008. Commenting on the development, Liam O'Mahony, CRH Chief Executive, said: "MHIL is one of the most modern cement producers in India with excellent reserves and a strong management team and is a market leader in the dynamic Andhra Pradesh market. As a first investment in India, we are delighted to be associated with such a strong company and look forward to developing the business with our partner as the Indian economy expands." write your comments about the article :: © 2008 Construction News :: home page |