In a news release late last week, CRH Plc of
Ireland announced that it had reached an agreement to acquire MMI Products Inc. (MMI) in Houston, TX. The cash consideration was put at $350 million, including debt acquired.
MMI is a major manufacturer of welded
wire mesh fabric, chain link fence and
construction accessories, as well as one of the major
wire companies in the US. They buy around 500'000 net tons of
wire rod per year.
CRH Plc has major warehousing and
distribution points for building materials in
Europe as well as in the US. According to CEO Liam O'Mahony, the addition of MMI will give them a "unique opportunity for future development" of their US operations.