Greece-headquartered Titan Group has signed an agreement to acquire 100% of Turkish manufacturer Traçim Cement.
Traçim Cement is located in the greater Istanbul market, one of the most attractive and dynamic cement and cementitious materials markets of Turkey. The assets in the transaction include a modern integrated cement plant with an annual production capacity of approximately 2.5 million tons of cement.
The plant serves the growing local market and has the capability to export to the neighbouring countries and to the US; there is also a plan for a prospective joint large solar power project with the sellers.
Titan says this strategic investment will enable it to strengthen its existing core heavy materials business in Western Turkey, where the group already has an established presence through a cement grinding plant in the Marmara region and a pozzolana (volcanic material) quarry, while complementing its export assets to the USA. The acquisition is consistent with the 2029 Titan Forward Strategic Priorities, focusing on footprint optimisation and accelerating inorganic growth.
The purchase price for the acquisition of 100% of the company’s shares corresponds to approximately US$190m and the transaction is expected to be completed in the first quarter of 2026, subject to customary legal procedures and regulatory approvals.
The acquisition is anticipated to contribute to sales above US$140m, to EBITDA (earnings before interest, taxes, depreciation and amortisation) above US$50m, and to be EPS (earnings per share) accretive in 2026, with further performance improvement from synergies in subsequent years.
