CRH GM: Romania's construction sector, up by 4% annually

Romania’s construction sector could grow by up to 4% annually in the next decade, said Albert Manifold, general director of the Irish cement producer CRH, cited by local Wall-street.ro. In February this year, CRH agreed to pay EUR 6.5 billion for assets from rivals Lafarge and Holcim, in a deal that will transform the Irish company into the world's third-biggest building materials supplier. The two had to sell assets to get regulatory approval for their planned merger estimated at EUR 40 billion. They want to become the world's largest cement producer. In Romania, CRH will take over Lafarge’s two cement plants in Medgidia and Hoghiz, and a grinding station at Targu Jiu. Manifold said that taking over the rivals’ assets will help CRH expand in North America and Europe. editor#romania-insider.com