Italian cement group Italcementi does not hold shares in Italian insurer Assicurazioni Generali SpA, Italcementi CEO Carlo Pesenti said on February 28, 2006.
Pesenti spoke at a news conference for the presentation of Italcementi’s new product, a type of photocatalytic cement called TX Active.
Pesenti answered a question whether the group he manages had acquired a stake in Generali. Italcementi does not consider buying out the stakes of the minority shareholders in its French cement supplier Ciments Francais a priority, Italcementi CEO Carlo Pesenti added.
Italcementi could use its cash-flow for other investments instead of buying the stakes of the minority shareholders, Pesenti said. While looking at the stakes of Ciments Francais minority shareholders, Italcementi might miss other investment opportunities, Pesenti said.
The president of Ciments Francais, Rene Nanot, said he was optimistic about the group’s 2006 performance and confirmed ambitions to expand its presence in Europe through certain acquisitions, ANSA reported on February 23, 2006. Nanot said the group will also focus on strengthening its positions in the Mediterranean region, adding that India and China were also interesting markets for Ciments Francais.