Italy Cementir Increases Board Members

Italy Cementir Increases Board Members
Published: 16 January 2008

The shareholders’ meeting of Italian cement group  Cementir, a unit of local construction company Caltagirone, increased its board members to 15 from 13, the company said.  
 
The shareholders’ meeting also approved the change of the company’s name to Cementir Holding Spa from  Cementir- Cementerie del Tirreno.
 
The Chief Executive Officer (CEO) of Italian grid operator Terna Flavio Cattaneo and Fabio Corsico entered the board of directors, while Massimo Confortini replaced Luciano Leone. Leone was named honorary chairman of the company. 
 
Cementir closed the first nine months of 2007 with a pre-tax profit of EUR157.6m (US$234.6m), up by 29.9 per cent YoY, the company said in a statement, ANSA reported. According to the statement, the pre-tax profit increase was due to the higher revenues and a recovery of efficiency at  Cementir’s plants.