Cement maker Titan America to purchase Keystone for $310 million
Jan 8 (Reuters) - Titan America TTAM.N on Thursday said it would acquire Pennsylvania-based Keystone Cement Company for $310 million, a move to expand its presence and capacity in the U.S. Mid-Atlantic region.
Keystone operates a cement kiln in Pennsylvania's Lehigh Valley with an annual production capacity of 990,000 short tons and holds mineral reserves estimated to support over 50 years of production.
The deal values Keystone at approximately $313 per short ton of current clinker production capacity.
Titan America said it would fund the purchase through a combination of cash on hand and financing.
Mexico-based Fortaleza Materiales said separately that it would receive around 55% of the $310 million payout due to its stake in Keystone.
The deal is set to close in the second half of 2026, Fortaleza added in a securities filing.
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