06/04/2010

US ARMY CORPS OF ENGINEERS ISSUES PERMIT FOR TITAN GROUP’s MINES AT THE LAKE BELT AREA 

Τhe US Army Corps of Engineers issued to Titan Group’s subsidiary in the US, Tarmac America LLC, a permit to mine in the Lake Belt area of Miami-Dade in Florida.

The new permit has a tenure of 20 years, provides specific requirements for operating the mine and was issued to implement the U.S. Army Corps of Engineers (ACE) Record of Decision (ROD) published on February 1, 2010. The ROD followed a Federal-Court-mandated Supplemental Environmental Impact Study (SEIS), issued for public comment in May 2009.

The new permit is not expected to have a significant impact on current operations and profitability, within the context of current depressed market conditions. However, it removes a source of uncertainty and allows Titan a long term focus on operating excellence and environmental stewardship.

Titan is an independent cement and building materials producer with over 100 years of industry experience. Based in Greece, the Group operates in 8 countries, owning 13 cement plants. Throughout its history Titan has aimed to combine operational excellence with respect for people, society and the environment.

In 2009, the Group sold over 15.9 m. tonnes of cement and cementitious materials, 3.9 m. m3 of ready mixed concrete, 15.3 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 

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