TITAN Expands its North American Footprint with Agreement to Acquire Keystone Cement Plant, Advancing TITAN Forward 2029 Strategy

BRUSSELS--(BUSINESS WIRE)--Regulatory News:

Titan SA (Euronext Brussels, ATHEX and Euronext Paris, TITC) announces that its subsidiary, Titan America SA (“Titan America”), listed on the NYSE, has entered into an agreement to acquire Keystone Cement Company, a Pennsylvania-based cement manufacturer and aggregates producer.

The transaction includes modern and high-quality assets such as an integrated cement plant, operating one of the most efficient cement kilns in Pennsylvania’s Lehigh Valley, with a clinker production capacity of 990,000 short tons per year. Thanks to its attractive location, the plant is well-positioned to serve a 6.2 million short ton per year addressable market across Pennsylvania, Maryland, Delaware, and Ohio, with strong exposure to large-scale infrastructure and technology investments and extensive transportation modernization programs. The acquisition is expected to accelerate top-line growth, enhance geographic diversification and improve operating margins through the realization of integration synergies, including substantial operational and commercial benefits from integration with the existing assets—Essex Cement in New Jersey and Roanoke Cement in Virginia—as well as Titan America’s fly ash processing and marketing facilities operated with Separation Technologies, a Titan subsidiary across Pennsylvania and Ohio.

The transaction price (subject to ordinary post-closing adjustments) is $310,000,000, which corresponds to approximately $313 per short ton of current clinker production capacity and its closing is subject to regulatory approval and other customary conditions.

Bill Zarkalis, President & CEO of Titan America, commented: “The strategic investment aligns perfectly with Titan America’s long-term growth strategy in the economic mega-regions along the East Coast of the US and enables Titan America to strengthen further its existing core materials business in the Mid-Atlantic region while adding complementary capacity in high-growth regions. It also demonstrates our disciplined M&A strategy - acquiring assets where our operational capabilities, commercial network, and financial strength can create substantial shareholder value.”

Marcel Cobuz, Chair of the Group Executive Committee, commented: “This acquisition in the US is consistent with the TITAN Forward 2029 Strategic Priorities, focusing on expanding cement capacity and accelerating inorganic growth in heavy materials, including alternative cementitious materials. It also complements the recent active Group portfolio management moves across our key markets towards the 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, a precast Joint Venture business in the Western Balkans, along with investment partnerships in pozzolan in Greece and Türkiye as well as in fly ash facilities in the UK and in India.”

— The press release issued by Titan America SA may be consulted on the website of Titan America SA via the link below: https://ir.titanamerica.com/press-releases

— This press release may be consulted on the website of Titan SA via the link below: https://ir.titanmaterials.com/en/regulatory-stock-exchange-announcements

About Titan America SA

Titan America is a leading vertically integrated producer of cement and building materials in the high-growth economic mega-regions of the U.S. East Coast, with operations and leading market positions across Florida, the Mid-Atlantic, and Metro New York/New Jersey. Titan America’s family of company brands includes Essex Cement, Roanoke Cement, Titan Florida, Titan Virginia Ready-Mix, S&W Ready-Mix, Powhatan Ready Mix, Titan Mid-Atlantic Aggregates, and Separation Technologies. Titan America’s operations include cement plants, construction aggregates and sand mines, ready-mix concrete plants, concrete block plants, fly ash production facilities, marine import and rail terminals, and distribution hubs.

About ΤΙΤΑΝ Group

TITAN Group is a Belgium-registered company and a leading international business in the building and infrastructure materials industry, with passionate teams committed to providing innovative solutions for a better world. With most of its activity in the developed markets, the Group employs more than 6,000 people and serves customers in over 25 markets, on four continents. It holds prominent positions in the United States, Europe - including Greece, the Balkans, the United Kingdom, Italy, and France - and the Eastern Mediterranean. The Group also has joint ventures in Brazil and India. With more than 120 years of history, TITAN has always fostered a family and entrepreneurial-oriented culture for its employees and works tirelessly with its customers to meet the modern needs of society while promoting sustainable growth with responsibility and integrity. TITAN has set a net-zero goal for 2050 and has its CO₂ reduction targets validated by the Science Based Targets initiative (SBTi). The Group is listed on Euronext Brussels and Paris, and the Athens Exchange, and its US business is listed on the NYSE. For more information, visit our website at www.titanmaterials.com.