US: Titan has announced that its subsidiary Titan America has entered into an agreement to acquire Keystone Cement, a Pennsylvania-based cement manufacturer and aggregates producer. The transaction includes an integrated cement plant with a clinker production capacity of 0.9Mt/yr, positioned to serve an addressable market of 5.6Mt/yr across Pennsylvania, Maryland, Delaware and Ohio. Titan says that the acquisition is expected to accelerate top-line growth, enhance geographic diversification and improve operating margins through ‘integration synergies’. The deal will reportedly generate ‘substantial’ operational and commercial benefits through integration with its existing US assets, including Essex Cement in New Jersey and Roanoke Cement in Virginia, as well as Titan America’s fly ash processing and marketing facilities operated by subsidiary Separation Technologies across Pennsylvania and Ohio.
The transaction price is US$310m, equivalent to approximately US$344/t of current clinker production capacity. Completion of the acquisition is subject to regulatory approvals and other customary closing conditions.
Marcel Cobuz, chair of the group executive committee, said the transaction aligns with Titan’s ‘Titan Forward 2029’ strategic priorities, focusing on expanding cement capacity and accelerating inorganic growth. “This acquisition in the US complements the recent acquisitions of an integrated cement plant in the Greater Istanbul Market with US export potential, a cement grinding plant in France, aggregates bolt-ons in Greece, along with investment partnerships in pozzolan in Greece and Türkiye as well as in fly ash facilities in the UK and in India,” he said.
