2011 Annual Report - Italcementi Group

Dealings with subsidiaries, joint ventures, associates and their
subsidiaries
Italcementi S.p.A. has current business dealings with and provides technical and/or
administrative services to subsidiaries, joint ventures, associates and their subsidiaries.
There were also dealings between Italcementi S.p.A. and Ciments Français S.A. and its
subsidiaries regarding the exchange of personnel services, with the aim of optimizing the
use of existing professional resources and developing common projects. Costs incurred by
Italcementi S.p.A. for organizational, international development, insurance and IT projects
were recharged to Ciments Français S.A. for the amounts attributable to it.
A service contract exists between Italcementi S.p.A. and Ciments Français S.A. for
allocation of the costs relating to those group functions that carry out activities in favor of
both companies or in favor of the entire Group.
Financially, Italcementi S.p.A. provides support to its subsidiaries both as a lender and as a
guarantor and optimizes treasury management with intragroup current accounts and loans.
Dealings with other related parties
In 2011, Finsise S.p.A., whose majority shareholder is Italo Lucchini, a director of
Italcementi S.p.A., provided administrative, financial, contractual, tax and corporate reorganization
consultancy services for a consideration of 360,000 euro.
Italcementi S.p.A. received legal services during the year for 230,000 euro from the law firm
Dewey & LeBoeuf, of which Luca Minoli, a director of Italmobiliare S.p.A., is a partner.
Italcementi S.p.A. has a land occupation contract with River S.p.A. (which during the year
became Kilometro Rosso S.p.A., a company in which the director Alberto Bombassei holds
an investment), in connection with building works for the construction of its management
office; the amount relating to 2011 was 42,000 euro.
In 2011 Italcementi S.p.A. disbursed an amount of 600,000 euro to the Italcementi Cav.
Lav. Carlo Pesenti foundation to cover management costs. With regard to the contract for
the supply of corporate-administrative services and provision of staff, Italcementi S.p.A.
charged the foundation an amount of 178,000 euro.
Equity investments in Italcementi S.p.A. and its subsidiaries held by Directors, Statutory
Auditors, the Chief Operating Officer and the Manager in charge of preparing financial
reports, as well as their remuneration for positions held within the Group, are illustrated in
the Remuneration Report.
Sustainable research and development
Italcementi S.p.A. research and development activities are handled by CTG S.p.A. for
Group companies in Italy and abroad; CTG activities are illustrated in the directors’ report in
the consolidated annual report.
With regard to Integrated Environmental Authorizations (Autorizzazioni Integrate Ambientali
- AIA), a renewal was obtained for the revamping of the cement plant in Rezzato. Renewal
documents were prepared and sent for various production units, with participation in the
related services conferences; additional documentation was prepared to meet the requests
of various local authorities and bodies.
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