Titan America agreed to acquire Keystone Cement Co., a Pennsylvania-based cement manufacturer and aggregate producer from the Fortaleza, Uniland and Tritadura groups.
The deal, which is valued at $310 million, adds Keystone’s operations to Titan America’s existing cement and fly ash facilities in Pennsylvania, Ohio and Virginia, expanding the company’s presence in the Mid-Atlantic.
“The acquisition of Keystone Cement represents a compelling strategic opportunity that aligns perfectly with our long-term growth strategy in the economic mega regions along the East Coast of our country,” says Bill Zarkalis, president and CEO of Titan America. “Keystone will bring high-quality assets, substantial limestone reserves and an attractive position in geographies benefiting from strong demand for high-performance construction materials and solutions.
“We see substantial value creation potential through capacity growth, operational improvements and integration with our Essex and Roanoke Cement operations,” Zarkalis adds. “This transaction reflects our disciplined approach to M&A, targeting assets where we can use our operational expertise, commercial network and robust balance sheet to drive meaningful value for our shareholders.”
Related: Titan America adds Virginia quarry through acquisition
