CRH to create new global Building Products division

CRH plc will establish a new global Building Products division from 1 January 2019, bringing together its Europe Lightside, Europe Distribution and Americas Products divisions.

Under the leadership of Keith Haas (currently President, Americas Products), this new platform will operate alongside our Americas Materials and Europe Materials divisions, leveraging CRH's scale and network opportunities across the company's global products businesses, CRH stated.

David Dillon (currently President, Europe Lightside & Distribution) will assume a new role of President, Global Strategy & Business Development, reporting to the CEO.

CRH says it has initiated a strategic review of our Europe Distribution business, focussed on improving the margins and returns of the business, as well as exploring other strategic options. It is targeting to improve the group's EBITDA margin by 300 basis points by 2021. The group aims to have EUR7bn of financial capacity over the next four years (after capex and dividends), for further value creation for its shareholders.