Compare to Annual Review 2010
TITAN is an international building materials Group, headquartered in Athens, Greece.
TITAN Group has operations in the U.S.A., Greece and Western Europe, South Eastern Europe and the Eastern Mediterranean, covering a wide spectrum of heavy building materials: cement, ready-mix concrete, concrete blocks, dry-mix mortars, fly ash and aggregates.
TITAN is a signatory to the United Nations Global Compact since 2000.
The Group is a core member of the World Business Council for Sustainable Development (WBCSD) and has joined the Cement Sustainability Initiative (CSI) which it leads as a co-chair since 2011.
TITAN is also a core member of the business network CSR Europe.
This section provides an overview of the Group’s operations across the world, including the financial results achieved in each region, market trends and CSR highlights of 2011.
U.S.A.
Cement plants 2
Quarries 6
Ready-mix plants 96
Distribution terminal 14
Concrete block plants 9
Fly Ash Processing plants
of which 1 in Canada 7
Employees 1,733
GREECE AND
WESTERN EUROPE
Cement plants 4
Quarries 29
Ready-mix plants 28
Distribution terminal 4
Concrete block plants 9
Fly Ash Processing plants1
Employees 1,208
SOUTHEASTERN EUROPE
Cement plants 5
Quarries 11
Ready-mix plants 9
Distribution terminal 2
Employees 1,690
EASTERN MEDITERRANEAN
Cement plants 3
Grinding plants 2
Quarries 15
Ready-mix plants 4
Employees 1,009
Financial Results
Market Trends
- Building activity in South-Eastern U.S.A. remains stagnant at very low levels
- Historically low plant utilization rate provides large operating leverage potential
- Strong demographic trends for the Southeast will drive demand in the longer term
See "Performance
by Region"
- Greek recession causes building activity to plummet in 2011, the 5th consecutive year of decline
- Weak housing market and surplus house inventory weigh on demand
- Shutdown of North African markets impacts TITAN’s exports in 2011
See "Performance
by Region"
- Economic recovery is beginning to positively impact construction activity
- First full year of operation of the new cement plant in Albania (1.5 million tons capacity)
- Consolidation of a regional cluster of operations through the integration of the cement plant in Kosovo (0.6 million tons capacity)
See "Performance
by Region"
- Social and political upheaval in Egypt dampens previously high growth rates in the construction sector
- New cement capacity in Egypt weighs on supply/demand balance
- In Turkey strong economic growth leads to substantial increase of domestic demand for building materials
See "Performance
by Region"
