Titan America announced on January 8, 2026 that it will acquire Keystone Cement Company for $310 million, valuing the deal at roughly $313 per short ton of Keystone’s 990,000‑short‑ton annual clinker capacity. The transaction will add Keystone’s modern kilns, limestone reserves, and aggregate assets to Titan’s existing portfolio in the Mid‑Atlantic region.
The acquisition is positioned to create operational and commercial synergies with Titan’s Essex and Roanoke cement plants and its fly‑ash facilities in Pennsylvania and Ohio. By integrating Keystone’s high‑quality assets, Titan will expand its production footprint, reduce logistics costs, and accelerate the deployment of low‑carbon construction materials—an area that has become a key growth driver for the industry.
Titan’s balance sheet is well‑positioned to fund the deal. With a current ratio of 2.95 and a debt‑to‑equity ratio of 0.47, the company can finance the transaction through existing cash and modest financing. The $310 million purchase represents about 9.7 % of Titan’s $3.2 billion market capitalization, underscoring the strategic importance of the deal relative to the company’s overall valuation.
Bill Zarkalis, President and CEO, said the acquisition is a “compelling strategic opportunity” that aligns with Titan’s long‑term growth strategy and its focus on expanding cement capacity and accelerating inorganic growth. Marcel Cobuz, Chair of the Group Executive Committee, noted that the deal is consistent with the company’s 2029 strategic priorities, which emphasize market expansion and low‑carbon material development.
The transaction is expected to increase Titan’s market share in the East Coast aggregates and cement markets, support long‑term margin expansion, and provide a platform for future low‑carbon product development. The deal also positions Titan to capture demand in Pennsylvania, Maryland, Delaware, and Ohio, where Keystone serves a 6.2 million‑short‑ton addressable market.
Closing will be subject to regulatory approval and customary conditions. Once completed, the expanded capacity will enhance Titan’s operational leverage and provide a stronger foundation for pursuing additional acquisitions in the region.
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