Greece's Titan Cement in discussions to sell its porcelain unit Ionia to Yalco

Bywangyun

Updated Thu, 27 Mar 2008 00:00:00 GMT

Greek Titan Cement said that it has started preliminary discussions with Yalco regarding the sale of its porcelain business activities unit Ionia SA.

In a press release to the Athens Stock Exchange the company said that it will make an official announcement in case a final agreement is reached.

Sources have told Thomson Financial News that Ionia has a turnover of 13 mln eur a year and that Titan hopes to sell the unit for about 10 mln eur.