Titan Cement Co. is a Greek company founded in 1902 and had Elefsina as its base. It is the leading Greek cement producer with current annual production capacity of about 15 million tons, in 4 plants located in Greece, 2 in the USA (Virginia and Florida), 3 in Southeastern Europe (Bulgaria, Serbia and F.Y.R.O.M.) and 2 in the Middle East (Egypt). Titan controls in total over 40 companies, covering the entire spectrum of construction materials, from aggregates to various types of grey cement, white cement, ready-mix concrete, dry-mix mortars, fly-ash, road transportation, shipments by its own fleet of specially converted vessels and related support services. It is one of the largest producers of ready-mix concrete in Greece and the largest quarry operator in the country (www.titan.gr, 14.02.2008).
This project's target is to evaluate Titan's strategy. Our research approach involved interviewing a member of the management team of the company.
We had the chance to interview Ms A. Mamalaki, Titan's Development manager of Human Resources Department of Greece and capture exactly all the basic points that describe the strategy Titan follows.
2.TITAN'S STRATEGYMISSION STATEMENT"We aim to be a multiregional, vertical integrated cement producer, combining an entrepreneurial spirit and operational excellence with respect for people, society and the environment." (Annual Report, 2006)Figure 1: Titan's strategy.
Titan's strategy consists of four basic axes:a)Globalization of the GroupThe management of Titan has as its principle to study carefully the local conditions of the market and the company-target (screening), before deciding an acquisition, whereas after the acquisition the management of the company invests heavily in forging a common corporate culture among the executives of the Group. The penetration of the company in the American market constitutes a very illustrative example. The big demand of cement products in the state of Florida, where the population...