Lunedì, 24 Settembre 2018
BERGAMO

Italcementi to close 9 of 17 Italian plants

English
© ANSA

Bergamo, April 17 - Italian cement giant Italcementi
said Wednesday it would "shortly" close nine of its 17 plants in
Italy because of over-capacity compared to a huge slump in
domestic demand.
It said the Italian market "continues to be marked by
productive over-capacity compared to a demand that has reached
the levels of the end of the 1970s".
Italcementi General Manager Giovanni Ferrario made the shock
announcement at the annual general meeting (AGM) of shareholders
in the world's fifth-largest cement producer in Bergamo.
Italcementi posted losses of 362.4 million euros in 2012,
most of it due to plummeting Italian demand.
It announced huge layoffs in January.
The Bergamo-based multinational produces cement, ready-mix
concrete and construction aggregates. It is the biggest cement
producer in the Mediterranean.
It employs over 20,000 people in Albania, Belgium, Bulgaria,
China, Canada, Cyprus, Egypt, France, Gambia, Greece, India,
Italy, Kazakhstan, Kuwait, Morocco, Mauritania, Saudi Arabia,
Spain, Sri Lanka, Thailand, Turkey and the United States.
Italcementi's annual sales are over 6 billion euros.

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