Italcementi looks to China for further growth
Italian group Italcementi, the world’s fifth cement producer, has been planning to further strengthen its positions and enter the eastern countries, eyeing China and its market as a good growth opportunity, it became clear on May 23, 2006. Being already present in 19 countries, including the United States, Egypt and India, the group has been seriously considering a possible entry on the Chinese market with an annual cement production of 800 million tonnes, Carlo Pesenti, Italcementi’s managing director, said.
The idea for now is the acquisition of a minority share in a Chinese company, already present in the sector, and purchasing of the controlling stake later, Pesenti claimed, adding there were no opportunities of the kind yet in the near future, but there was the interest on behalf of the company. Pesenti will head to Asia in the coming weeks to create the needed relations there, he said. Published under Cement News
