TITAN Cement Group $100 million acquisition of 50% of Companhia Industrial de Cimentos Apodi

Overview:

• TITAN Cement Group, based in Athens, has acquired 50% of the shares of Brazil-based Companhia Industrial de Cimentos Apodi for $100 million.
• Titan has entered intio a joint venture agreement whereby Cimento Apodi will be controlled on a 50/50 basis by the Dias Branco Group and a Titan/Sarkis vehicle.
• The assets of Cimento Apodi include a modern integrated cement plant in Quixeré operating since 2015 and a grinding cement plant in Pecém port, close to the city of Fortaleza.

Rani Mehta - Journalist