Italian Buzzi Unicem buys stake in Riva

Italian Buzzi Unicem buys stake in Riva
Published: 18 March 2004

Italian cement and concrete company Buzzi Unicem bought a final 10 per cent stake in Italian cement producer Cementi Riva for a total of 5.2 mln euro (US$6.4m),it was reported on March 17, 2004. Following the acquisition of the stake Buzzi Unicem gained total 100 per cent control in Cementi Riva. Cementi Riva has a plant in Riva del Garda in Trento, northern Italy, with an yearly capacity of 300,000tpa. Buzzi Unicem plans to propose at the next meeting of the board of directors, scheduled for March 26, 2004, a merger with Cementi Riva.  Italian cement and concrete company Buzzi Unicem sold 14.2Mt of cement and clinker in 2003, up 3.9 per cent on the previous year.