Italian holding group Caltagirone registered a net financial debt of Euro 169.5m at end-2004, it was reported on March 16, 2005.  The group had a net financial position of Euro 183.6m at end-2003. The fall in the net financial position of Caltagirone was due to the investment of Euro 572m in the acquisition of Danish cement maker Aalborg Portland and ready-mixed concrete maker Unicon on behalf of Caltagirone’s cement unit Cementir. Note: the net financial position/net financial debt is calculated as the difference between a company’s financial debts and liquid assets. The Caltagirone board, chaired by Francesco Gaetano Caltagirone examined and approved the 2004 balance sheet of the company on March 16, 2005.
Published under Cement News