Strong market positions in Europe and North America, with a growing presence in Asia. Good vertical integration, especially in North America where CRH is a leading supplier of aggregates, asphalt, cement, ready mix, and paving. Highly diversified product portfolio. Robust margins and ability to generate operating cash flow consistently through the cycle. Cyclicality, seasonality, and high capital and energy intensity of the heavy building materials' industry. Some operations are in a competitive and fragmented industry with limited pricing flexibility. Very active in acquisitions and disposals. Ongoing portfolio management forms a key part of management's growth strategy. Robust cash flow generation has allowed CRH to digest and integrate very sizable debt-funded acquisitions, and quickly lower leverage back to a level commensurate
