Further to today’s articles in the press referring to the announcement Titan Group made on July 16, 2007, regarding the cease of rock mining in the “Lake Belt” region of Florida, we inform the investor community that from the activities affected, in 2006, cement produced at the Pennsuco plant contributed about 10% of Group EBITDA and aggregate sales about 6%.
As a matter of fact, following the abovementioned development, contribution of these activities to Group EBITDA on an annual basis, is expected to be at lower levels than the referred figures. Based on the currently available data, precise figures can not be estimated.
Titan is an independent cement and building materials producer, based in Greece. Titan owns and operates 11 cement plants in six countries. In 2006 the Group sold over 16 m. tons of cement and cementitious materials, 6 m. m3 of ready mixed concrete, over 22 m. tons of aggregates and various other building materials like concrete blocks, dry mortars etc.