Titan America has signed an agreement to complete the Titan America Keystone acquisition, taking ownership of Pennsylvania-based Keystone Cement Company from the Fortaleza, Uniland and Tritadura groups.
The deal expands Titan America’s presence in the Mid-Atlantic region and is expected to create operational and commercial benefits through integration with its existing Essex Cement and Roanoke Cement businesses, along with fly ash processing plants in Pennsylvania and Ohio.
Keystone operates a modern cement facility in the Lehigh Valley with current clinker production capacity of 990,000 short tons per year. The company also holds substantial limestone and dolomite reserves, which Titan America expects to support more than 50 years of cement production and provide long-term supply of construction aggregates.
The Keystone operation is positioned to serve an addressable market of roughly 6.2 million short tons per year across Pennsylvania, Maryland, Delaware and Ohio. Titan America said the location offers strong exposure to infrastructure investment, transportation upgrades and technology-driven construction demand.
The site also includes existing infrastructure and permits for the use of alternative fuels, creating opportunities to reduce costs and lower carbon intensity over time. The strategic location is expected to support logistics optimization across Titan America’s regional cement network.
Bill Zarkalis, President and CEO of Titan America, said: “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. 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. 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.”
The Titan America Keystone acquisition values the transaction at $310 million, equivalent to about $313 per short ton of clinker capacity, subject to standard post-closing adjustments. The purchase will be funded through cash on hand and financing and remains subject to regulatory approvals and customary closing conditions.