Building materials group CRH spent almost €700 million on acquisitions and investments last year.

The acquisitions included Ukrainian firm Mykolaiv Cement for €96 million in April and the Zhongbei Cement Company in China for €46 million in September. Located in northeast China, Zhongbei has the capacity to produce 3.6 million tonnes of clinker per annum.

Of the €690 million spent on deals, €220 million was invested in the second-half in seven acquisition and investment initiatives. These included the purchase of certain assets of JEH Company and Fogleman Builders Supply in the United States, which CRH hopes will add incremental sales of €30 million.

"Development spend of almost €0.7 billion in 2013 reflected our strategic focus on establishing leading positions in attractive markets. During the second half of the year, we continued to strengthen our cement operations in high growth markets in Ukraine, India and China," CRH chief executive Albert Manifold said.