Greek Titan

Greek Titan
Published: 11 December 2003

Greek cement producer Titan Cement will raise to 94.8 per cent its stake in Macedonian cement company Cementarnica Usje, buying the 46.5 per cent, held by Swiss cement maker Holcim, Titan said on December 9, 2003.  The acquisition, which is in line with Titan's plans for expansion in the Macedonian market, follows a Titan-Holcim deal under which Titan sold to Holcim 99.9 per cent in Bulgarian cement company Plevenski Cement.  In line with its expansion plans to the international cement market, Titan recently bought 99.9 per cent in Bulgarian cement plant Zlatna Panega Cement from the company's previous owner, HeidelbergCement.