Virginia-based Titan America SA, a building materials, services and solutions producer and supplier, recently concluded its purchase of Bath-based Keystone Cement Holdings and Keystone Cement Co., a cement manufacturer and aggregates producer, for $310 million.
The purchase allows Titan America to expand its footprint in the Mid-Atlantic region and will add 990,000 short tons annually of current clinker production capacity. Mineral assets are expected to support more than 50 years of cement production.
“We are pleased to welcome the more than 125 Keystone team members to the Titan America family,” Bill Zarkalis, Titan America president and CEO, said. “The investment aligns perfectly with our long-term growth strategy and expands Titan America’s presence in attractive geographies that benefit from high demand for performance construction materials and solutions, while strengthening the company’s position in important markets in our Mid-Atlantic segment.”
Keystone supplies construction aggregates and has dolomite reserves. It operates cement kilns in the Lehigh Valley that will be integrated with Titan America’s Essex Cement and Roanoke Cement operations and its fly ash processing plants in Pennsylvania and Ohio.
The combined company is positioned to serve the 6.2 million short ton annually addressable market in Pennsylvania, Maryland, Delaware and Ohio. Existing infrastructure and permits allow for further expansion.