Building firm’s £2bn US sell-off

BUILDING materials group CRH is selling its US distribution business for £2bn to rival distributor Beacon Roofing Supply.

Bosses said they couldn’t see a way to the top of the market and were selling when they could get a good price.

It came as Dublin-based CRH, the largest buildings group in the US, announced profits rose 10pc to £595m. Bosses plan to spend the cash from the sale, buying Fels, a German lime and aggregates firm, for about £550m.