The business being sold makes architectural glass, storefront systems, architectural glazing systems and related hardware for customers mainly in North America.
CRH said the decision to sell its Building Envelope business at what it described as an"attractive" valuation demonstrated its active approach to portfolio management, efficient allocation of capital and the creation of a simpler and more focused group. "The proceeds from the divestment will be incorporated into the group's capital allocation resources, focused on value-enhancing capital expenditure, value-accretive acquisitions and cash returns to shareholders," CRH said in a statement.CRH reported full-year earnings of $4.6 billion across the group.