MMI Products Inc. to be acquired by CRH Plc

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.