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News Titan to buy further stake in Adocim

Titan to buy further stake in Adocim

Written by Global Cement staff
28 August 2018
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Turkey: Greece’s Titan Group has reached an agreement to increase its share in its joint venture, Adocim Çimento Beton Sanayi ve Ticaret. At present the cement producer is a 50-50 joint-venture operated with Cem Sak Group since 2008. The arrangement will see it buy an additional 25% share in Adocim and dispose of its 50% share of a grinding plant. The transaction is conditional upon approvals by regulatory authorities and is expected to be concluded by the end of November 2018.

Adocim owns an integrated cement plant with a production capacity of 1.5Mt/yr, a grinding unit with a production capacity of 0.6Mt/yr and three ready-mix concrete units.

Last modified on 29 August 2018
Published in Global Cement News
Tagged under
  • Titan
  • Turkey
  • Adocim
  • Stake
  • Plant
  • grinding plant
  • Cem Sak Group
  • GCW368

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