Cementir ready for Turkish growth

Francesco Caltagirone, the chairman of the Italian cement group Cementir, yesterday told the group’s shareholders that it is interested in further acquisitions in Turkey. In 2004, he continued, Cementir’s existing Turkish subsidiary, Cementas, could sees its Ebitda rise by at least 50 per cent.  Mr Caltagirone also stressed that Turkey made a big contribution to his group’s turnover in 2003, while its Italian operations were penalised by the rising cost of transport and raw materials. During the year, he added, Cementir made an unsuccessful bid for Secil, Portugal. Cementir is part of the Italian publishing, public works and concrete products group Caltagirone.