Skip to main content

Titan Cement invests in Brazil

Published by
World Cement,


Titan Cement Group has announced that it has concluded an agreement to acquire an equity stake in Brazilian Cement Manufacturer Companhia Industrial de Comento Apodi. Through a joint venture agreement, Cimento Apodi will be jointly owned and controlled on a 50/50 basis by the Bias Branco Group and a Titan/Sarki vehicle. The amount of Titan’s investment, which will be determined at closing, is estimated to be about US$100 million and will be financed using Titan’s available cash.

The assets of Cimento Apodi include a modern integrated cement plant in Quixeré operating since 2015 and a grinding cement plant in Pecém port, close to the city of Fortaleza, operating since 2011. Cimento Apodi has production capacity of over 2 million tpy of cement.

With this investment, Titan expands its geographical footprint into a new region, entering a promising market with long-term potential, joining forces with well-established local partners and investing in state-of-the-art assets.

Banco Itaú BBA and Mattos Filho acted, respectively, as financial and legal advisors to Titan for this transaction.


Adapted from press release by

Read the article online at: https://www.worldcement.com/the-americas/04082016/titan-cement-invests-in-brazil-47/

You might also like

 

 WCT2021

WCT2021

At WCT2021 you will hear from a range of industry leaders and technical experts as they discuss the key challenges facing the cement industry and the latest solutions on offer. Register for free today »

 
 
 

Embed article link: (copy the HTML code below):