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Titan America Announces Agreement to Acquire Keystone Cement Company

TTAM
  • Titan America SA announced an agreement to acquire Keystone Cement Company, a Pennsylvania-based cement manufacturer & aggregates producer, from the Fortaleza, Uniland, & Tritadura groups.
  • The transaction expands Titan America's footprint in the Mid-Atlantic region, integrating Keystone's assets with existing Essex Cement, Roanoke Cement, & fly ash processing operations in Pennsylvania & Ohio.
  • Keystone operates a high-efficiency cement kiln in Pennsylvania's Lehigh Valley with 990,000 short tons per year of clinker production capacity.
  • The acquisition includes substantial mineral assets expected to support more than 50 years of cement production capacity.
  • Keystone is positioned to serve a 6.2 million short ton per year addressable market across Pennsylvania, Maryland, Delaware, & Ohio.
  • The company supplies construction aggregates, with dolomite reserves allowing for future expansion as a supplier of DOT-qualified aggregates.
  • Strategic location enables commercial optimization & enhanced logistics between Keystone, Essex Cement, & Roanoke Cement operations.
  • Existing infrastructure & permits allow for alternative fuels utilization to improve cost structure & reduce carbon intensity.
  • The transaction price is $310,000,000, equivalent to approximately $313 per short ton of current clinker production capacity.
  • Funding will come from a combination of cash on hand & financing, with closing subject to regulatory approval & other customary conditions.