24/12/2007
INTERBETON CONSTRUCTION MATERIALS S.A. ACQUIRES NON LISTED DOMIKI ΒΕΤΟΝ S.A.
INTERBETON Construction Materials S.A., a subsidiary of TITAN Cement Co. S.A., signed the acquisition agreement for 100% of the shares of DOMIKI ΒΕΤΟΝ S.A. The shares will be transferred on 15/1/08 and the Group will assume management thereafter.
Domiki Βeton S.A. is based in Irakleion, Crete and owns three ready mix plants with annual sales over 170.000 m3, as well as a quarry with annual sales exceeding 500.000 tons. Turnover was above €11 m in 2006.
This acquisition is not expected to materially affect Titan Group financial statements.