Titan Memorandum to explore the use of Carbon Upcycling's technology
TITAN signed a Memorandum of Agreement to explore the commercial deployment of Carbon Upcycling's low-carbon production technology. The collaboration is part of TITAN's agenda to double sales of low carbon products between 2022 and 2026 and the ultimate ambition to reach net zero by 2050. We continue to remain optimistic on TITAN's prospects in the US given the recent tariff negotiations and because only one third of Titan America's sales is imported in the US (10% tariff). Additionally, the US remains a net-import market in which c. 24% of consumption is imported, implying that, over the short to medium-term, local production alone will not allow to suffice demand. We reiterate our Accumulate rating and € 45 target price.Titan Cement International SA is a Belgium-based international cement and building material producer. The Company's activities include the production, transportation, and distribution of cement, concrete, aggregates, fly ash, mortars and other building materials. The Company reports its activities into four geographical business segments: Greece and Western Europe, North America, South East Europe and Eastern Mediterranean. Apart from the transportation and distribution, the Company also transfers its know-how through collaborations with customers, business partners, local communities and Academia.
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