Further to today’s press articles relating to the eventual impact of the Lafarge acquisition of Orascom on the existing joint venture in Egypt between Titan and Lafarge, we comment as follows:
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The announced acquisition does not terminate our existing joint venture with Lafarge in Egypt; it could however lead to a future realignment of Titan’s significant presence in this country.
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Titan will explore and evaluate all opportunities and possibilities from a business perspective on the basis of the existing Titan - Lafarge joint venture agreement.
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Titan, as always, will promptly inform the investor community with regard to any developments on this matter.
The above announcement was notified to the Athens Exchange and was posted on its website.