He is reported as saying that the company excludes the possibility of carrying out acquisitions in the US, and it prefers to “focus on sectors where it can become a leading operator.”
For example, Caltagirone said that Cementir intends to focus on the white cement sector, where it is said to control a 15% market quota worldwide.
Caltagirone also said he believes the Italian cement market will be rationalised in the next 24-36 months, and he deems “positive” the potential reduction of the number of operators in the sector from current 15 to about six or seven.
Following the acquisition of peer Sacci, which should be completed in July, 2016, Cementir is expected to increase its market quota in Italy from current 7%-8% to 14% and to generate synergies worth €10 million in the next 12-24 months.
Caltagirone said that Cementir is expected to post positive margins again from 2018.
