Titan Cement International has acquired a 45% equity stake in Aegean Perlites to gain direct access to raw materials that will help the group enrich its range of low carbon binder products. And that’s because it will secure a long-term supply of pozzolana. According to TITAN Group management, the acquisition “will contribute to the achievement of its carbon footprint reduction goals of reducing carbon emissions from the group’s operations by 35% by 2030 (compared to 1990 levels) and increasing its portfolio of sustainable products by more than 50%”.

Giannis Paniaras, General Manager of TITAN Group European Operations, states: “Very pleased that we became shareholders of Perlites Aegean together with the Govdelas family, building on our excellent long-term relationship, and we look forward to developing a joint activity that harnesses the potential of glass pozzolana.” .

“Perlites Aegean” was founded in 1994, it is a private company specializing in the mining, processing and production of perlite ores. It has leased the northeastern tip of the uninhabited island of Gyali, located between Kos and Nisyros, from the Greek government and has access to port loading facilities to move products to world markets, such as construction, agricultural and industrial fertilizers. The concession covers 428 acres and is designed to last for several decades, and its reserves are estimated to exceed 75 million tons. Perlites Aegean has obtained the rights to mine approximately 11 million tons with the possibility of expansion.