Following a recent article in the Egyptian press, Titan Group ( Titan ) announces that, given the steadily increasing importance of its investment in Egypt, it is exploring the possibility of a sale of a minority stake of its Egyptian operations to an investor, who would add value to the business.
Reaching a relevant agreement will greatly depend on the level of the offered consideration and the capacity of any potential minority shareholder to add value.
If and when any such agreement is reached, Titan will promptly proceed to a relevant announcement.
Titan is an independent cement and building materials producer with over 100 years of industry experience. Based in Greece, the Group operates in 7 countries, owning 12 cement plants. Throughout its history Titan has aimed to combine operational excellence with respect for people, society and the environment.
In 2008, the Group sold over 17.2 m. tonnes of cement and cementitious materials, 5.4 m. m3 of ready mixed concrete, 18.6 m. tonnes of aggregates and various other building materials like concrete blocks, dry mortars etc.
Detailed financial and other information is available on the Titan Group website: www.titan-cement.com