Cement News tagged under: Titan Cement Co

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Titan Group's 1H19 results bolstered by USA

02 August 2019, Published under Cement News

Titan Group recorded a turnover of EUR785.4m in 1H19, up 10.2 per cent on 1H18. This was attributed to a strong performance in the US market and growth in cement demand in southern Europe, along with a return to modest sales in Greece. EDITDA remained flat at EUR122.2m following challenging conditions in Egypt and Turkey, while group net profit after minority interests and taxes amounted to EUR13.3m versus EUR24.8m in 1H18. Consolidated turnover in 2Q19 for the group reached EUR422.7m, up ...

Titan completes successful share exchange tender for Euronext and Athens listings

18 July 2019, Published under Cement News

Titan Cement Co SA has announced the successful voluntary share exchange tender offer submitted by Titan Cement International SA to the shareholders of Titan Cement SA. The tender acceptance rate of 90 per cent was exceeded with 93 per cent acceptance rate for the ordinary shares and 92.3 per cent for the preference shares. Titan Group will be listed through Titan Cement International SA on Euronext Brussels, the Athens Exchange and Euronext Paris on 23 July 2019. "The listing of TITAN Gro...

Titan Group tenders Euronext and Athens Exchange listing

19 October 2018, Published under Cement News

Titan Cement company has announced that Titan Cement International has submitted a voluntary tender offer the exchange of all the ordinary shares and preference shares issued by Titan Cement Co SA with new shares of Titan Cement International SA. The purpose of this offer is to have a listing of Titan Group on Euronext Brussels, one of the European Union stock exchanges. The offer includes the proposal of a secondary listing and admission to trading of all Titan Cement International SA shar...

Titan to gain control of Adocim Joint venture

24 August 2018, Published under Cement News

Titan has reached an agreement to increase its participation in its joint venture in Turkey. Adocim Cimento Beton Sanayi ve Ticaret A.S. is a 50-50 per cent joint venture established between the Cem Sak Group and Titan in 2008. It consists of a modern cement plant with 1.5Mta cement capacity, a 0.6Mta grinding unit and three ready-mix concrete units. Titan has reached an agreement with its partner to acquire an additional 25 per cent of Adocim, while at the same time disposing of its 50 pe...

Adverse weather and foreign currency exchange affect Titan's 1Q18

24 May 2018, Published under Cement News

Τitan Group 1Q18 results suffered from adverse weather conditions in the US and southeastern Europe, coupled with the strengthening of the euro against the US dollar and other currencies. Consolidated turnover reached EUR322.5m, recording a EUR39m decline compared to the previous year. EBITDA declined by EUR7.6m reaching EUR43.5m. Net profit after minorities and the provision for taxes was EUR0.9m, versus a EUR3.9m loss recorded in the 1Q17. Wet weather on the eastern coast of the ...

Titan's 2017 turnover remains stable at EUR1506m

28 March 2018, Published under Cement News

Titan's 2017 consolidated turnover remained stable, at EUR1505.8m, a marginal 0.2 per cent decline compared to 2016. EBITDA reached EUR273.4m, a 1.9 per cent decrease. Non-recurring events (staff redundancy programmes in Egypt and Greece and hurricane Irma in Florida) had a negative impact on EBITDA of about EUR1m, against EUR6.7m of such costs in 2016. Net profit after minorities and the provision for taxes was EUR42.7m, compared to EUR127.4m in 2016. Annual results strengthened on t...

Titan 1H17 turnover reached €773.8m up 6.9%

28 July 2017, Published under Cement News

Τitan Group's 1Q17 results saw consolidated turnover was EUR773.8m (US$905.4m), posting a 6.9 per cent increase compared to the 1H16. EBITDA increased by 18.9 per cent, reaching EUR142.1m. Net profit after minority interests and the provision for taxes increased by 51.4 per cent and stood at EUR13.9m, versus a net profit of EUR9.2m in the respective period of 2016. Consolidated turnover for the second quarter increased by 6.7 per cent to EUR412m. EBITDA grew by 19.5 per cent to reach EUR9...

9M16 results see upturn in the US and Egypt

04 November 2016, Published under Cement News

Several cement companies released their 9M16 results this week. While the US and Egypt provided a healthy boost to business results for companies such as Titan Cement Group, in Asia and the Middle East returns were less positive. Titan Cement Group released its 9M16 results this week and relied on its Egyptian and US operations to boost its turnover, which climbed to EUR1124m, up 9.2 per cent on the same period in 2015. Several cement producers have seen good margin improvement in Egypt ...

Titan to take on Brazilian challenge

05 August 2016, Published under Cement News

Titan Cement Group made an unexpected move this week, buying into Cimento Apodi in Brazil. The Greek-based multinational will form a joint venture t o operate the business with the Dias Branco Group and Titan/Sarkis, Sarkis being a vehicle company 94 per cent owned by Titan. Cimento Apodi, situated in Ceará, northeast Brazil, operates the 1800tpd Quixeré cement plant as well as a 0.36Mt grinding unit at Pecém port, near Fortaleza. Some 2Mta of cement production will be added to Titan’s mu...

Titan Cement takes US$100m stake in Brazil's Cimento Apodi

04 August 2016, Published under Cement News

Greece's Titan Cement Group has announced that it is to take a 50 per cent equity stake in Companhia Industrial de Cimento Apodi of Brazil. The deal will see Titan invest an estimated US$100m to become joint owner of the company alongside Brazilian conglomerate the Dias Branco Group. Both organisations will acquire a 50 per cent interest in the cement producer. Cimento Apodi is based in the state of Ceará in northeastern Brazil and operates a grinding plant in Pecém and a new integrate...