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The early years
Incorporated in 1947 by the state-owned holding company I.R.I. (Istituto Ricostruzione Industriale) with the aim of utilizing blast furnace slags, Cementir - Cementerie del Tirreno SpA- initially operates only one cement plant located in Bagnoli (Naples) originally belonging to ILVA, a steelmaking company (ex-Finsider). Shortly afterwards, the construction of a new 1m tons of annual capacity cement plant is started in Naples.
Between 1952 and 1964, a series of corporate deals enlarge the Group perimeter, which reaches over 2.3m tons of cement capacity. Among the most noteworthy steps: the acquisition of 55% of “Cementerie di Livorno Spa”, from ILVA, the incorporation of Cave Meridionali SpA, the acquisition of the cement plant in Lauriano from Società Idroelettrica Piemonte and of Cementi Alba Spa; the start up of production plants at Arquata Scrivia and Taranto.
In 1968 the Spoleto (Perugia) plant is refurbished, the Taranto plant is upgraded and the new Maddaloni (Caserta) plant is built.
In 1992, as part of the Italian privatization program, IRI sells its Cementir stake to the Caltagirone Group through a competitive bidding process. After an internal reorganization plan, Cementir Holding starts a rapid international expansion drive with the aim of strengthening the company’s competitive position and broadening its production capabilities.
Since 2001, Cementir Holding has invested over €1.1 billion in acquisitions and capacity expansions, such as:
• 2001: Cimentas and Cimbeton AS (cement and readymix), the N. 3 cement producer in Turkey
• 2004: Aalborg Portland AS (white& grey cement) and Unicon AS (ready-mix), the N. 1 producer in Denmark and N. 1 ready-mix player in Scandinavia
• 2005: Edirne cement plant in Turkey (Trakya) and 4K Beton (n. 2 ready-mix company in Denmark)
• 2006: Elazig cement plant in Turkey (Anatolia)
• 2008: Kudsk & Dahl (leading aggregates and ready-mix player in Denmark)
• 2009: Sureko AS (industrial waste management and production of alternative fuels in Turkey
• 2011: Recydia (waste management and renewables in Turkey)
• 2012: NWM Holdings Ltd (collection, treatment, recycling and disposal waste in England)
As a consequence of the above deals as well as of the growth dynamics in each country, from a local player Cementir Holding has become an international cement player which derives around 9% of its revenue from Italy and has worldwide operations.
In 2008, as a consequence of the size and international dimension of the Group, Cementir becomes a pure holding company, controlling three fully owned operating subsidiaries: Aalborg Portland (Scandinavian & international operations), Cimentas (Turkey) Cementir Italia (Italy).
In 2009 Cementir Holding shares are readmitted to the STAR segment of Borsa Italiana (where it had been listed since 2001), after having spent over 1 year in the Blue Chip Segment.