Cement News tagged under: Greece

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SRF factory planned at Volos

16 July 2020, Published under Cement News

A new solid recovery fuel (SRF) plant is, under discussion in Volos, Greece. The new facility would supply RDF to the cement industry, but the plans face local opposition over pollution concerns. The Volos cement factory is owned by Heracles Cement (LafargeHolcim) and with a capacity of 4.9Mta is one of Europe's largest cement plants. The cement plant already coprocesses municipal waste and has a permit to burn up to 200,000tpa of RDF and 60,000t of sewage sludge. The cement plant wants to...

Titan Global Finance Plc makes EUR250m notes offering

03 July 2020, Published under Cement News

Titan Global Finance Plc, subsidiary of Titan Cement International SA, has made a EUR250m notes offering that will mature in 2027, with a 2.75 per cent coupon per annum. The orders in the book were above two times the nominal amount of the issue and the application will be made to the Irish Stock Exchange plc, trading a Euronext Dublin. The closing date is set for 9 July 2020. The proceeds of the notes will be used by the issuer to purchase some or all of the EUR300m with a coupon of 3.5 pe...

Titan issues notes for general purposes, including bank debt repayment

30 June 2020, Published under Cement News

Titan Global Finance plc, a subsidiary of Titan Cement International SA, is inviting holders of its 3.500 per cent guaranteed notes due June 2021, originally issued in an aggregate principal amount of EUR300m and of which EUR287m remains outstanding, to tender any or all of their notes for purchase by the offeror of cash. The offeror will pay a cash purchase price equal to EUR1016 per EUR1000 in principal amount of the notes validly tendered and accepted for purchase, plus any accrued and un...

Titan posts rise in 5M EBITDA

26 June 2020, Published under Cement News

Titan Group reported a drop in consolidated revenue by 2.1 per cent to EUR641.8m in the January-May 2020 period, following a 6.1 per cent growth in the 1Q20 and a subsequent slowdown in April and May during the peak of the coronavirus pandemic. However, EBITDA rose by 5.5 per cent to EUR97.3m thanks to a reduction in costs, mainly due to lower fuel costs. Titan's net profit after taxes and minorities was down 9.1 per cent YoY to EUR3.5m. With construction considered an essential activity ...

Titan successfully navigates pandemic in first quarter

15 May 2020, Published under Cement News

This week Titan Group released its 1Q2020 business results which saw the group's revenues rise by 6.1 per cent to EUR384.8m , compared to 1Q19. ICR looks a little closer now at how the group's operations have been performing.
 Dimitris Papalexopoulos, chairman of the group, said: "The Group successfully navigated the first phase of the [COVID-19] crisis. Since the first emergence of the pandemic which appeared in our countries of operation in early to mid-March, our first focus has been to...

Titan Group sees 6% revenue increase in 1Q20

14 May 2020, Published under Cement News

Based on robust US demand and resilience of markets in the eastern Mediterranean, Titan Group's consolidated revenue increased in the 1Q20 by 6.1 per cent, reaching EUR384.8m, despite the slowdown of business due to COVID-19 since mid-March. EBITDA declined by EUR3.7m, or 8.5 per cent YoY, reaching EUR40.6m, mainly due to the advanced costs of about EUR10m associated with the earlier timing of the plant maintenance in Florida (completed in 2Q19). Preliminary April year-to-date financials ...

Titan buys back IFC minority stake in SE Europe/Egypt units

22 November 2019, Published under Cement News

Greece-based Titan said that its board of directors has approved the acquisition of the minority stakes held by the International Finance Corp in its units in Egypt and four countries of southeastern Europe for EUR81.8m. “This transaction will conclude Titan’s successful cooperation with IFC gradually established since 2008 in Albania, Egypt, Serbia, North Macedonia, and Kosovo,” the group said. The agreement is subject to fulfilment of conditions precedent, Titan said, adding that its p...


26 September 2019, Published under Cement News

In the first half of 2019, Titan Group recorded growth in sales revenue in all regions, with the exception of the eastern Mediterranean sales region. Consolidated turnover for the group reached EUR785.4m, up 10.2 per cent on the 1H18. This is attributed to the strong performance of the US market, growth in demand in southeastern Europe, and a modest recovery of sales in the group’s Greek operations. EBITDA remained flat YoY at E122.2m as the persistent challenging conditions in both Egypt...

Maltese cement carrier refloated in Gulf of Saloniki

18 September 2019, Published under Cement News

Cement carrier Sirios Cement I, which was loaded with a cargo of cement, ran aground in the Gulf of Saloniki, Greece, on its way to Italy on Saturday 14 September. The ship was refloated after four hours work with the help of tugs and taken back to Thessaloniki Port for inspection. Built in 1981, Sirios Cement I has a 13550dwt and travels under the Maltese flag.

Greek construction starts recovery in May

12 August 2019, Published under Cement News

The Greek construction sector saw building permits rise by 7.4 per cent in May, according to the statistics agency ELSTAT. There were 1453 building permits issued in the month covering an area of 268,900m 2 . May's figures are still 5.7 per cent down on May 2018 and are down 13.3 per cent lower than in the first five months of 2018. However, 2018 was a rebound year from very low levels and the current statistics prove that the recovery in 2018 was not a one-off, say experts. Moreover, the ...