JPM | Building Broadcast: CRH, HOLN, FER: JPMC Construction Daily

Research evidence excerpt

JPM | Building Broadcast: CRH, HOLN, FER: JPMC Construction Daily

J P M O R G A N Europe Equity Research

17 June 2026

JPM | Building Broadcast: CRH,

HOLN, FER

JPMC Construction Daily

Building Materials European Building & Construction

and Infrastructure

• CRH Elects W. Anthony (Tony) Will to its Board of Directors. CRH Elodie Rall AC

yesterday announced the election of Tony Will, 60, to the CRH Board of (44-20) 7134-5911

elodie.rall@jpmorgan.com

Directors, effective July 1, 2026. “We are delighted to welcome Tony to our J.P. Morgan Securities plc

Board of Directors,” said Richie Boucher, CRH Chairman. “Tony brings

Zaim Beekawa

extensive leadership experience, a strong track record of strategic execution (44-20) 7134-4175

and deep expertise in operational discipline. His experience leading a large- zaim.beekawa@jpmorgan.com

scale industrial business and driving growth in attractive higher-value markets J.P. Morgan Securities plc

will be highly relevant as CRH continues to advance its strategy, capitalizing Jamie Smallbone

on the powerful demand trends critical to modern infrastructure and delivering (44-20) 3493-7015

long-term value for our shareholders.” Link to the press release. jamie.smallbone@jpmorgan.com

J.P. Morgan Securities plc

• CSN Cement Sale Faces Questions as Holcim Resists Huaxin Bid. Manshi Sinha

Bloomberg reports that Huaxin Cement Co.’s bid for the cement unit of (91-22) 6157 5111

Brazil’s Cia. Siderurgia Nacional is facing resistance from Holcim Ltd., manshi.sinha@jpmchase.com

according to people familiar with the matter. Holcim, which owns about 42% of J.P. Morgan India Private Limited

Huaxin and sold the same Brazilian assets to CSN in 2021, has signaled it

doesn’t support Huaxin moving to the next phase of the sale process, the people