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| Italcementi acquires two more firms in Kuwait Italy's construction materials giant Italcementi has closed two acquisitions in Kuwait's ready mixed concrete industry, Gulf Ready Mix and Al Mahaliya, for an overall investment of approximately 30 million dollars. The new local production structure combines the operations of Gulf Ready Mix (ready mixed concrete sales of approximately 200,000 m³ in 2007), Al Mahaliya (about 330,000 m³) and Kuwait German Ready mix, acquired in March, making the Italcementi Group the Emirate's largest RMC producer, with 2008 projected overall sales volumes of around 700,000 m³ (a 15% domestic market share) and the capacity to achieve a significant expansion in sales. Following the 2007 acquisition of Hilal Cement Company, the third largest player in the cement business, the Italcementi Group has rapidly verticalized its operations in Kuwait, strengthening its competitive capacity with a view to generating aggregate revenues of around 130 million dollars once integration is complete and EBITDA of approximately 14 million dollars. write your comments about the article :: © 2008 Construction News :: home page |