Cyprus Cement not sure about Titan

Cyprus Cement Pcl (CCC), the island’s second largest cement producer denied that it is in advanced talks with Titan SA of Greece for a tie-up, but added that it has in the past been engaged in negotiations with many without leading to a deal.

The Cyprus Cement Public Company Ltd would like to state that various investors expressed their interest for cooperation, at various times, but discussions that the Company had with the interested parties have not come to an agreement with any of them.
The Company is aware of the Rules and Regulations of the Cyprus Stock Exchange and the Securities and Exchange Commission and if there is anything that needs to be announced it will announce it accordingly. At the present time there is nothing that should be announced.

The Greek financial web page euro2day.gr had reported that Titan may buy a stake in Cyprus Cement Company. According to these press reports the negotiations are still at a preliminary stage. CCC is listed on the CSE with a market capitalization of €57 mln. At year-end 2005 the company reported sales of €49 m with operating profit of €1.3 m.