Titan to invest over Eur3 bil to expand US and Europe cement, low-carbon products

Titan Materials said it will invest over Eur3 billion to drive robust growth in its core business, according to a company statement Nov. 11. The investment will focus on expanding cement capacity, enhancing its alternative cementitious materials platform, and innovating low-carbon products.

This initiative is part of the company's Titan Forward 2029 strategic growth plan, which aims to scale next-generation technologies and solutions, the company said.

The company also aims to achieve an annual sales growth of 6%-8% with the ambition of reaching Eur4 billion by 2029, of which alternative cementitious materials are expected to reach 10% of group sales as part of its Titan Forward 2029 targets.

"Titan aims to drive robust growth in its core business by expanding cement capacity -- particularly in its growing US markets -- while creating value by advancing carbon management initiatives in Europe," the company said. "TITAN will accelerate innovation in low-clinker, low-carbon products, scale up its precast platform in both Europe and the US, and advance the exploration of zero-carbon clinker through Carbon Capture Storage value chain technologies under a project in Greece."

Titan will also scale an integrated global platform of alternative materials by enhancing sourcing and trading capabilities, pursuing targeted investments and partnerships across existing and new geographies, and leveraging proprietary technologies.

"With a clear focus on value growth in our attractive US and Europe markets through innovation, sustainability, and operational excellence focused on low clinker materials and products, we are positioning TITAN to capture the next wave of growth and deliver top of class long-term returns," Marcel Cobuz, chair of the group executive committee, said.