Italcementi

The company brings to HeidelbergCement its primacy in Italian and French markets. This merger has strengthened company's future and gives Pesenti family new resources to develop Italmobiliare investments

Giampiero e Carlo Pesenti

Giampiero e Carlo Pesenti

«A businessman knows that the most important thing is to ensure future development in a company, rather than concentrating on continuously monitoring». For those who know Giampiero Pesenti and his son Carlo -who with these words gave his view on the decision to hand control of Italcementi to the German colossus HeidelbergCement- knows that these are sincere and heartfelt words, especially since they come from an Italian family that has been active in business, with century-old traditions.



The Pesenti family, however, with their skill and financial muscle, will be the second shareholder and will be represented in the monitoring council of the new group; they will be able to have strategic and directional input. «With this step, we are consolidating the future of Italcementi and we are guaranteeing the resources for further development in Italmobiliare’s portfolio of investments», Carlo Pesenti -now Ceo of the family company- added. He will be able to make best use of the business’s significant revenue, by investing it in new business activities. 

It should also be said that Italcementi’s marriage to the Germans comes with a very lucrative dowry. Over the last twenty years, the company has changed face. Since the acquisition of Ciments Francais, in 1992, the percentage of the company’s business which is conducted in Italy (97%) went down to around one quarter of its entire turnover. As a whole it grew in a regular fashion, often performing better than average in the sector. In the first nine months of 2015, the company’s revenue was 3.22 billion euros, a 3.2% increase compared to the 3.12 billion of the same period in the previous year, resulting also in a 1.7% increase in the gross operating margin.

Looking at this merging of Italcementi and Heidelberg, industrial analysts have quite rightly seen it as a statement of the «right to development», which in modern capitalism - global by definition- is balancing with the right to monitor, overcoming the old antimony between ownership and participation. When large industrial companies become ubiquitous, the old idea of ownership, whereby the boss has personal know-ledge of all the machines, team leaders and clients, no longer makes sense. The Pesenti family have been aware of this for some time. As such, within their group the governance system is one in which responsibility and the competencies of a boss are accompanied by an international management role, which could at any time be applied in the same way to a public company. 

In essence, the Pesenti group’s new strategies resemble Carlo’s own profile. He is a businessman with lots to say and to give. He has already become part of the history of the Confindustria (General Confederation of Italian Industry) having organised internal reform. He is ideal for international business because of coherent business planning, but also his interest and a personal cultural vocation. There is no doubt that this group’s future horizons, in cement and other areas, will be global.