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  • Italcementi Zuari

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    Harish Sreedhar
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    The Italcementi Group acquired full control of the Indian joint venture Zuari Cement Limited for approximately 100 million euro by purchasing the shareholding of Zuari Industries Limited. Italcementi originally entered the Indian market in 2001 by acquiring 50% of Zuari Cement Limited, which operates a 2 million tonne cement plant in southern India, and Zuari Cement acquired another company operating a 1.2 million tonne plant in 2002. Together the companies reported revenues of 100 million euro and profits of 12 million and 4 million euro in gross operating and operating profit in 2005.

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    The Italcementi Group acquired full control of the Indian joint venture Zuari Cement Limited for approximately 100 million euro by purchasing the shareholding of Zuari Industries Limited. Italcementi originally entered the Indian market in 2001 by acquiring 50% of Zuari Cement Limited, which operates a 2 million tonne cement plant in southern India, and Zuari Cement acquired another company operating a 1.2 million tonne plant in 2002. Together the companies reported revenues of 100 million euro and profits of 12 million and 4 million euro in gross operating and operating profit in 2005.

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    12 views1 page

    Italcementi Zuari

    Uploaded by

    Harish Sreedhar
    The Italcementi Group acquired full control of the Indian joint venture Zuari Cement Limited for approximately 100 million euro by purchasing the shareholding of Zuari Industries Limited. Italcementi originally entered the Indian market in 2001 by acquiring 50% of Zuari Cement Limited, which operates a 2 million tonne cement plant in southern India, and Zuari Cement acquired another company operating a 1.2 million tonne plant in 2002. Together the companies reported revenues of 100 million euro and profits of 12 million and 4 million euro in gross operating and operating profit in 2005.

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    ITALCEMENTI GROUP ACQUIRES FULL CONTROL OF THE INDIAN JOINT VENTURE ZUARI CEMENT LIMITED

    Bergamo, 15 May, 2006 Italcementi Group - through Ciments Franais, its sub-holding for international activities - has entered into an agreement to acquire the shareholding of Zuari Industries Limited in Zuari Cement Limited, a 50-50 Indian joint venture, for approximately 100 million euro. The Italcementi Group entered the Indian market in January 2001 when it acquired 50% of Zuari Cement which operates a 2 Mt/yr plant in the southern part of the state of Andhra Pradesh in Southern India. In early 2002, Zuari Cement acquired Sri Vishnu Cement, a company with a 1.2 Mt/yr plant located in Sitapuram in the northern part of Andhra Pradesh. In 2005, these companies reported revenues of approximately 100 million euro, gross operating profit of close to 12 million euro and operating profit of 4 million euro.

    ITALCEMENTI GROUP ON THE INTERNET: www.italcementigroup.com Italcementi Media Relations Tel. (39) 02.29024.212 Italcementi Investor Relations Tel. (39) 035.396.751 184

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