Greece’s titan cement acquires Turkish cement company
Greece-based cement giant Titan Cement, which operates in 12 countries, has acquired Traçim Cement, a Kırklareli-based Turkish company, for $190 million.
Traçim, which has an annual production capacity of approximately 2.5 million tons of cement, is expected to contribute more than $140 million annually to Titan Cement’s sales revenues, strengthening both operational profit and earnings per share.
Titan Cement had exited its largest investment in Türkiye earlier this year, selling Adoçim in May for 3.2 billion Turkish lira. However, the group has now made a swift return to the Turkish market through the acquisition of Traçim Cement.
In a statement, Titan Cement announced that it has agreed to acquire 100% of Traçim Cement for $190 million, with the transaction expected to be completed in the first quarter of 2026.
Boost to revenue and profitability
Operating in Kırklareli, Traçim’s annual sales are projected to add more than $140 million to Titan Cement’s revenues, while also enhancing the group’s operational profitability and earnings per share.
Previously scaled back operations in Türkiye
In May, Titan Cement reduced its presence in the Turkish market after transferring its shares in Adoçim to Muğla Çimento and Yurt Çimento, marking a downsizing after 17 years of operations in the country.
With a history spanning more than a century in the cement industry, Titan Cement operates plants not only in Greece and Türkiye but also in the United States, the United Kingdom, France, Italy, Bulgaria, Serbia, Albania, Kosovo, North Macedonia, and Egypt. The company employs approximately 6,500 people worldwide.
