AlthoughCRH, a maker ofbuildingmaterials, is heavily exposed to the constructiondownturninAmericaandEuropeithasjoint venturesin Turkey, Chinaand India anda strong balance-sheet.
The document proposed that Chinese partner Guangdong Provincial Highway Construction Co. agree to the transfer of the extra cost from Hopewell's balancesheet to that of the project in the form of shareholder loans.
He then cleared out the executive ranks, fixed the company's balancesheet and turned the company into one of the most profitable big engineering and construction firms in the world.