BRUSSELS: Belgium-based building materials giant TITAN Group said on Thursday it has agreed to acquire Tragim Cement in the greater Istanbul market for about $190 million, expanding its footprint in one of Turkey’s most dynamic construction regions.
The deal for 100% of Tragim Çimento Sanayi ve Ticaret Anonim Şirketi includes a modern integrated cement plant with an annual capacity of roughly 2.5 million tonnes. The plant serves the growing Istanbul market and has export capabilities to neighbouring countries and the United States.
The acquisition aligns with TITAN’s strategic priority to optimize its footprint and accelerate inorganic growth. It will strengthen the group’s core heavy materials business in western Turkey, where it already operates a cement grinding plant and a quarry.
The transaction, subject to regulatory approvals and customary conditions, is expected to close in the first quarter of 2026. TITAN anticipates the asset will contribute over $140 million in sales and more than $50 million to EBITDA in 2026, and be earnings per share (EPS) accretive from the first year.
The companies are also exploring a prospective joint large solar power project, TITAN said.
TITAN Group, listed on Euronext Brussels, Paris and the Athens Exchange, employs over 6,000 people and operates in more than 25 countries.