Cmc group
2011 Budget and 2011-2013 Business Plan approval

On February 26, 2011 the General Meeting of Cmc di Ravenna, approved the 2011 Budget and the 2011-2013 Business Plan. Mid-terms forecast of the cooperative shows a slight growth in terms of revenues, the entry into the market of motorway construction and management concessions as well as a strengthening of its presence in foreign markets.

In 2010 the group consolidated turnover amounts to 760 million euro with a growth expectation also in the next three-year period.

Cmc, thanks to a 3 billion euro order book, expects the group consolidated turnover to rise from 843 million in 2011 to 970 million in 2013.

Almost half of the turnover will come from works abroad, mainly in Southern Africa, P.R. China, South East Asia and Algeria.

“In 2011 we will begin, together with the main Italian contractors, the works for the construction of the Milan external Easter Ring Road – said Mr. Dario Foschini, Cmc CEO. The work will be carried out  without state funds; it will be financed by private and cooperative companies and by credit institutions. In 2011 Cmc, together with other cooperatives, will enter into other similar operations. This way, and with the expansion abroad, we intend to face the progressive reduction of public works in Italy”.

Mr. Foschini also underlined that Cmc does not shirk economic responsibility for home territory. The cooperative is ready to participate in the investment necessary to modernise the port and build the container terminal immediately after the beginning of the works to deepen the Candiano Channel to 14,50 meters.

In the Arabic world, Cmc is presently operating in Algeria on works worth over 100 million euro. Safety conditions for the 32 Italian technicians are not worrying so far.

At the end of 2010 the Group workforce, inclusive of temporary workforce in Italy and abroad, amounts to 8.577 units; Cmc shareholders amount to 373 units.

“The good economic and business results achieved in the last few years – said Mr. Massimo Matteucci, Chairman of Cmc at the end of the meeting – allow us to welcome our 110th anniversary with sufficient trust. We do not foresee a large growth in terms of turnover, but we will concentrate on productivity gain, on innovation and on improvement of our skills and know-how”.

2011 Budget and 2011-2013 Business Plan approval