Belgium-based Titan America SA, a building materials, services and solutions producer and supplier, recently entered into an agreement to acquire Bath-based Keystone Cement Co., a cement manufacturer and aggregates producer, from the Fortaleza, Uniland and Tritadura groups for $310 million.
The purchase will significantly expand Titan America’s footprint in the Mid-Atlantic region.
“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,” Bill Zarkalis, President & CEO of Titan America, said “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.”
Closing is subject to regulatory approval and customary conditions.
Titan America has corporate offices in Virginia and Florida and operates in Florida, the Mid-Atlantic and Metro New York/New Jersey. Its family of company brands includes cement plants, construction aggregates, quarries and sand mines, ready-mix concrete and concrete block plants, fly ash production facilities, and interconnected marine import terminals, rail terminals and distribution hubs.