Titan Group acquires Turkish cement producer Tracim, bolsters presence

International cement and building materials producer Titan Group said it has signed an agreement on Dec. 11 to acquire Turkey's Tracim Cement.

Under the purchase agreement, Titan will acquire 100% of Traçim Çimento Sanayi ve Ticaret AS, a cement producer in the greater Istanbul area.

The acquisition includes a 2.5 million mt/year integrated cement plant. The facility supplies the domestic Turkish market as well as neighboring countries and the US.

Titan also said it plans to pursue a large-scale solar power project in cooperation with the sellers.

"This strategic investment enables Titan to strengthen its core heavy materials business in western Türkiye, where the Group already has a presence through a cement grinding plant in the Marmara region and a pozzolana quarry, while complementing its export assets to the US," the company said.

"The acquisition is consistent with the 2029 Titan Forward strategic priorities, focusing on footprint optimization and accelerating inorganic growth," it added.

Platts, part of S&P Global Energy, last assessed CEMDEX Turkey at $52/mt FOB on Dec. 4, down $1/mt week over week.