Italcementi
 |
|
| Società per azioni | |
| Traded as | BIT: IT |
| Industry | Building materials |
| Founded | 1864 |
| Headquarters | Bergamo, Italy |
|
Key people
|
Giampiero Pesenti (Chairman), Carlo Pesenti (CEO) |
| Products | Cement, construction aggregate, ready-mix concrete |
| Revenue | €4.791 billion (2010) |
| €353.8 million (2010) | |
| Profit | €45.8 million (2010) |
| Total assets | €10.02 billion (end 2010) |
| Total equity | €4.986 billion (end 2010) |
|
Number of employees
|
20,760 (end 2010) |
| Website | www.italcementigroup.com |
Italcementi is an Italian multinational company, quoted on the Borsa Italiana, which produces cement, ready-mix concrete and construction aggregates. In 2015, 45% of Italcementi was acquired by HeidelbergCement, together forming the world's second largest cement producer.
Italcementi was founded in 1846 in Scanzo near Bergamo, Italy, as the Società Bergamasca per la fabbricazione del cemento e della calce idraulica (Bergamo Company for the production of cement and hydraulic lime). The company produced a new grade of cement, the Scanzo cement, that grew in popularity and was used in various projects such as the 16-arches bridge above the Adda river, the Venezia Santa Lucia railway station and the Suez Canal (underwater concrete).
In the early 1920s, the company merged with the construction group owned by the Pesenti family, forming a 12-plant and 1500-employee group producing +200 tons of cement annually. In 1925, it was introduced on the Italian stock exchange. The company became Italcementi in 1927. In the fifties, Italcementi provided the cement for the construction of the Pirelli Tower.
In 1992 it underwent internationalisation following the acquisition of Ciments Français, which made it the largest cement producer of the world. Since 1998, it has further expanded through acquisitions of new cement works in Bulgaria, Kazakhstan, Thailand, Morocco, India, Egypt, Kuwait, and the United States.
In 2010, Ciments français bought its obligations back from its US creditors to pave the way for a merger with its parent company Italcementi, merger that had previously faced a strong opposition from the aforementioned US stakeholders. In June 2014, Italcementi, already an 83% shareholder in Ciments français, launched a bid to buy the remaining 17%. By the end of the takeover bid in July 2014, Italcementi reached 97,73% participation in Ciments français, and remained confident it would reach the 100% threshold
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Wikipedia