INTERBETON Construction Materials S.A., a subsidiary of TITAN Cement Co. S.A., signed the acquisition agreement for 100% of the shares of DOMIKI ΒΕΤΟΝ S.A. The shares will be transferred on 15/1/08 and the Group will assume management thereafter.
Domiki Βeton S.A. is based in Irakleion, Crete and owns three ready mix plants with annual sales over 170.000 m3, as well as a quarry with annual sales exceeding 500.000 tons. Turnover was above €11 m in 2006.
This acquisition is not expected to materially affect Titan Group financial statements.
Titan Group owns and operates 31 ready-mix concrete units in Greece in the areas of Attiki (6), Thessaloniki (6), Dodecanese (5, of which 3 in Rhodes and 2 in Kos), Achaia (3),Ileia (2), Corinth (2), Chalkidiki (2), Zakynthos (1), Magnesia (1), Fthiotida (1), with annual sales over 2,300,000 m3. In the aggregates sector, Titan Group owns and operates 11 quarries in the areas of Attika (2),Thessaloniki (2), Iriakleion (1), Rethymno (1), Chalkidiki (1), Dodecanese (1), Ileia (1), Magnesia (1), Aitoloakarnania (1), with annual sales above 11,000,000 tons.