Aufrufe: 80
The acquisition comprises a modern, fully integrated cement plant with an annual cement production capacity of approximately 2.5 million tonnes of cement, serving a rapidly growing domestic market while also offering export capabilities to neighbouring countries and the US. Traçim also has rights to a permit for a second integrated production line, adding a further 2.5 million tonnes of cement capacity which will make it the Group’s largest cement production plant. This acquisition supports TITAN Group Forward 2029 strategy and priorities as laid out in the recent Investor Day, by driving core growth through capacity expansion, footprint optimization and a stronger supply chain and export flexibility.
In addition, an agreement has been signed with Caba Energy Group, for a joint venture in a 100MW solar power project already under construction, with TITAN committing €34 million investment for its 50% share. Following the completion of the solar power plant and together with the cement business, the new acquisition is expected to contribute to the Group more than €120 million in sales and over €50 million in EBITDA, in 2027, and to be EPS accretive, with further performance improvements from synergies in subsequent years.
Marcel Cobuz, Chairman of the Group Executive Committee, commented: “This acquisition is fully aligned with TITAN Forward 2029 strategy, enabling us to advance our existing core heavy materials business and continue achieving top of class returns of capital. Istanbul is a vibrant market, and we commit investments in upgrading the plant, its power sources as well as capacities development.”
Christos Panagopoulos, Executive Chairman and CEO of Titan Group operations in Türkiye, commented: “We are strengthening our presence in the Marmara region of Western Türkiye where TITAN already serves customers and operates a grinding plant and a pozzolana quarry. We are delighted to welcome Traçim’s employees to the TITAN family as we create new opportunities and drive future growth together.”
About TITAN Group
TITAN Group is a Belgium-registered company and a leading international business in the building and infrastructure materials industry, with passionate teams committed to providing innovative solutions for a better world. With most of its activity in the developed markets, the Group employs more than 6,000 people and serves customers in over 25 markets, on four continents. It holds prominent positions in the United States, Europe - including Greece, the Balkans, the United Kingdom, Italy, and France - and the Eastern Mediterranean. The Group also has joint ventures in Brazil and India. With more than 120 years of history, TITAN has always fostered a family and entrepreneurial-oriented culture for its employees and works tirelessly with its customers to meet the modern needs of society while promoting sustainable growth with responsibility and integrity. TITAN has set a net-zero goal for 2050 and has its CO₂ reduction targets validated by the Science Based Targets initiative (SBTi). The Group is listed on Euronext Brussels and Paris, and the Athens Exchange, and its US business is listed on the NYSE. For more information, visit our website at www.titanmaterials.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260305339694/en/
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