Titan Group is seeking to strengthen its presence in France and for this purpose is in exclusive negotiations for the acquisition of the cement company Vracs De L’Estuaire.
This announcement was made following the 9-month results. More specifically, the company said that its sales amounted to 2,012.5 million (an increase of 1.4%), net profits to 170.8 million from 224.5 million and EBITDA (earnings before interest, taxes, depreciation and amortization) to 473.6 million, increased by 8.4% (+13%, after the adjustment for the sale of Adocim and the impact of exchange rates).
Vracs De L’Estuaire, which belongs to the CIMAT group, has modern facilities, including a grinding plant in the port of Le Havre, in northern France, serving one of the largest and fastest growing markets in Europe. This strategic investment, as the Group’s management noted, strengthens Titan’s presence in France, leveraging and expanding its existing activities in the Marseille market, where it has an import station.
At the same time, it is an important step in accelerating the implementation of the Group’s goals in terms of innovation and carbon footprint reduction, offering an additional platform to serve its customers with low-carbon cements and alternative cementitious materials, based on pozzolan.
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