GlobalData
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TITAN Group has announced the completion of its divestment strategy, which involved the sale of its 75% stake in Adocim Cimento Beton Sanayi ve Ticaret.
The transaction, which was initially disclosed on 19 February 2025, received all customary regulatory approvals. It includes cement assets in eastern Turkey.
The shares were divided, with 50% going to Mugla Cimento Sanayi ve Ticaret and the remaining 25% to Yurt Cimento Sanayi ve Ticaret.
As a result of this transaction, TITAN will receive total cash proceeds of $87.5m.
The group has stated that it will maintain its operations in cement grinding and supplementary cementitious assets in other areas of Turkey.
This divestment aligns with TITAN’s broader strategy to optimise its portfolio and explore new reinvestment opportunities.
The assets involved in the sale included an integrated cement plant and a cement terminal, along with related infrastructure. Employees associated with these operations will be part of the transition, ensuring continuity for customers and stakeholders.
Post-transaction, TITAN, directly or through its subsidiary TITAN Cement Company, holds shares representing 4.78% of its voting rights.
TITAN Group is an international enterprise operating in the building and infrastructure materials industry.
The group, with a workforce exceeding 5,700 employees, has a presence in over 25 countries, holding significant market positions in the US and Europe. The business is committed to achieving a net-zero carbon footprint by 2050.
"TITAN completes divestment of 75% share in Adocim Cimento" was originally created and published by World Construction Network, a GlobalData owned brand.
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