Titan America to Acquire Keystone Cement in Add-On Deal

Titan America (NYSE: TTAM) reported record 2025 performance alongside an announced growth step: it signed a definitive agreement in early January 2026 to acquire Keystone Cement Company. The acquisition is expected to expand cement capacity and add mostly new markets across Pennsylvania, Ohio, Maryland, and Delaware.

Titan America’s 2025 results included revenue of about $1.66 billion (up about 2%), net income of $185 million (up 12%), adjusted EBITDA of $390 million (up about 5%), and record operating cash flow of $295 million. Capital expenditures were $163 million, and management highlighted its vertically integrated model and low-emission cement initiatives.