CRH see share surge by 24% as part of the ‘Biden bounce’

By Maurice Garvey

IRELAND’S biggest company CRH, have seen their shares surge as much as 24 per cent as part of the ‘Biden bounce’.

The US Presidential election has fueled speculation that CRH, the largest building materials business in North America, will be a key beneficiary of Joe Biden’s €1.6 trillion economic recovery plan.

CRH Head Office Belgard Castle 01 compressor 1

Headquarters at Belgard Castle

Large Irish companies like CRH are considered “high growth” and exposed to some of the investment world’s biggest “mega trends” according to industry sources.

These trends include the green agenda, the prospect of US President Joe Biden presiding over massive infrastructure spend, and improving demands in the area of nutrition.

Headquartered at Belgard Castle, CRH is a leading building materials business in the world, employing 79,000 people in over 3,000 operating locations in 30 countries.

The group manufacture and supply a range of integrated building materials, products and innovative solutions, from major public infrastructure projects to commercial buildings and residential structures.

Last December, CRH announcd the appointment to the Board of Richard Fearon and Lamar McKay as non-executive Directors.

Mr Fearon (64), a US citizen, is currently the Vice Chairman and Chief Financial and Planning Officer of Eaton Corporation plc, a global power management company, roles he has held since 2009 and 2002, respectively.

Mr McKay (61), also a US citizen, was until July 2020 Chief Transition Officer of BP plc. During a 40 year career in Amoco and subsequently with BP, following the merger of the two companies, McKay held a variety of senior executive roles, including responsibility for BP’s interests in the TNKBP joint venture

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