Titan America to Acquire Keystone Cement Company

Cleary Gottlieb is representing Titan America SA (Titan America) in its acquisition of Keystone Cement Company (Keystone), a Pennsylvania-based cement manufacturer and aggregates producer, from the Fortaleza, Uniland, and Trituradora groups for approximately $310 million subject to ordinary post-closing adjustments.

The transaction was announced on January 8, 2026. Closing is subject to regulatory approval and other customary conditions.

The acquisition represents a significant expansion of Titan America’s footprint in the strategically important Mid-Atlantic region. The acquisition is expected to capture significant operational and commercial synergies through integration with Titan America’s existing Essex Cement and Roanoke Cement operations as well as its existing fly ash processing plants across Pennsylvania and Ohio.

Titan America is a leading producer of cement and building materials in the Eastern United States. Titan America and its subsidiary companies produce cement, aggregates, ready mixed concrete, concrete block, and beneficial fly ash and operate interconnected marine import terminals, rail terminals, and distribution hubs. It is a member of TITAN Cement Group, an international cement and building materials producer.

For more information, please see the press release.

The Cleary M&A team includes partners Glenn McGrory and Kyle Harris, associates Monica Lindsay and Karry-Ann (Kerry) Cornwall, and law clerk Andrew Zheng. Partner Beau Sterling and associates Madison Bush and Katie McGuire are advising on environmental, health, and safety matters. Partners Alan Levine and Liz Dyer and associate Makesi Buddy are advising on executive compensation and employee benefits matters. Partner Swift Edgar and associate Kathy Zhang are advising on tax matters. Partner Daniel Ilan and associate Natalie Curry are advising on intellectual property matters. Partner Daniel Culley and associate Charles Balaan are advising on antitrust matters. Partner Chase Kaniecki and associates B.J. Altvater and Ana Carolina Maloney are advising on foreign direct investment matters. Real estate resource lawyer Jacqueline Debs is advising on real estate matters.