Titan New sustainable UK facility and CFO succession plan
TITAN announced to invest £20m in a new sustainable construction materials platform in the UK whilst last week it also announced a CFO succession plan. We continue to remain optimistic on TITAN's prospects in the US and remind that only one third of Titan America's sales is imported in the US (currently at a 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. In light of the attractive valuation, we reiterate our Accumulate rating and € 45 TP.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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