Ciments Francais plans acquisitions in India, Turkey

Ciments Francais plans acquisitions in India, Turkey
21 September 2005

French cement producer Ciments Francais SA, a subsidiary of Italian cement group Italcementi, is not excluding the possibility to expand its foreign activities through acquisitions in southern India and Turkey, Ciments Francais president, Yves Rene Nanot said.

Nanot was interviewed during a press conference held after the presentation of the company’s first half 2005 financial results.  

After strengthening its presence in Egypt through local Suez Cement unit, Ciments Francais is now interested in buying some of the 10 cement factories, which the Turkish government expropriated from the local Rumeli group and will soon put on sale.  

Ciments Francais has so far invested EUR600m ($734.m) to reinforce its presence in India, Thailand and Egypt, Nanot said.  

Ciments Francais reported a 13.1% YoY rise in net profit in the first half of 2005 to EUR170.3m ($208.m). The company’s operating profit totalled 274.9 mln euro ($336.4m), up by 1.2% YoY and the turnover increased by 10.2% YoY to EUR1.6bn (US$1.9bn).  

The company expects an improvement in 2005 operating profit compared to the previous year, thanks to the consolidation of its Egyptian activities, Nanot said.  

Published under Cement News