Titan Group

Titan Group agreed to acquire the International Finance Corporation's minority stakes in all of Titan's subsidiaries in Egypt and Southeast Europe for EUR 81.8 million, including IFC's 17.28% stake in Alexandria Development Ltd., which holds 88.93% of Alexandria Portland Cement.

GHH announced a strategic partnership with Titan to add concrete spraying machines, transmixers, pumps, and utility vehicles to its product range, making GHH a full-range supplier of underground mining equipment.

Sibur and Gazprom Neft, through their joint venture Sibgazpolimer, acquired the remaining 50% stake in Poliom from the Titan Group, gaining full ownership of the polypropylene plant in Omsk, Russia.

Titan Group, through its subsidiary Titan-Polymer, plans to start construction of a BOPET film and PET granule production facility in the Moglino SEZ, Pskov region, in August-September 2019. The first phase (BOPET film) will have capacity up to 70,000 tonnes/year; the second phase (PET granules) up to 170,000 tonnes/year. Total investment is RUB 19 billion.

Titan Group, the anchor resident of the Mogilino SEZ, has completed supplier contracts for the Titan-Polymer project. The first stage will create two BOPET film lines with capacity up to 70,000 tonnes per year, with total investment of 19 billion rubles.

Titan reached an agreement to increase its participation in its Turkish joint venture Adocim Cimento Beton Sanayi ve Ticaret A.S. by acquiring an additional 25% from its partner, while disposing of its 50% stake in a grinding plant. The transaction is expected to close by end of November 2018.

Titan Group plans to build a PET and polymer processing plant in the Moglino SEZ, Pskov region, Russia. The first phase, a PET granule plant, is to be completed by 2020. Total investment is 19 billion rubles.