Thursday, 13 March 2014

Italcementi eyes Myanmar investment

Italian cement major Italcementi is studying the possibility of entering the Myanmar market in the the next few years, its chief executive has said in a recent interview.

Speaking to The Nation about Italcementi's growth potential in the Asean region, Carlo Pesenti said: "We are negotiating with a local partner in Myanmar and also studying the country's Foreign Investment [Law]," he said.

Italcementi is already active in Southeast Asia through its Jalaprathan Cement and Asia Cement operations in Thailand. Last year, the country proved to be a particular bright spot for Italcementi as Thai turnover rose by 18.1 per cent to EUR269.2m and the EBITDA moved ahead by 58.8 per cent to EUR51.5m. Domestic cement shipments advanced by 13.8 per cent as an additional kiln was brought back on-stream.

source: Cemnet
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