ECONOMY

Titan cements its quarry activities with US permit

Tarmac America LLC, a subsidiary of the Athens-listed Titan cement group, has secured a new permit to operate its limestone quarry in the Lake Belt area of Miami-Dade county in the state of Florida in the US. After over two years of waiting and a successful court battle, Tarmac America obtained the 20-year license a few weeks ago, Titan group announced. According to an analysis by Proton Bank, the news is not expected to affect the financial results of Titan in the short term as the current recession means little change is expected regarding the company’s activities and profits. Nevertheless, the company can certainly look forward to more rational long-term planning of its needs in the region. If demand does increase, the company will have adequate stocks of materials and also be able to support the profit margins of its Pennsuco unit in Florida.