Giovedì, 20 Settembre 2018

Italcementi quarterly revenue down 58.5 million euros


Milan, May 3 - Italcementi recorded consolidated
revenues of 964.8 million euros in the first quarter of 2013,
down by 58.5 million compared to the same period last year, the
Italian cement giant said Friday.
In the first quarter of 2012, the company suffered a
34.4-million-euro drop.
Last month Italcementi said 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
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
Italcementi's annual sales are over six billion euros.

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