Greece’s Titan Cement said that its Interbeton Construction Materials has signed an agreement to acquire 100 per cent of ready mix cement company Domiki Kritis for an unspecified amount. In an announcement on its website, Titan said that the shares will be transferred on Jan 15 and that it will undertake management soon after. Moreover, ’the acquisition is not expected to materially affect Titan Group financial statements,’ it added.
Titan also noted that Domiki Kritis is based in Heraklion, Crete, owns three ready mix cement plants, and that its turnover in 2006 was over Euro 11m.
