Titan America supplies heavy building materials and services to resellers and construction contractors in the eastern region of the United States.
The company recorded a net income of $129.5 million on revenue of $1.24 billion in the nine months ended Sept. 30, compared with a net income of $109.8 million on revenue of $1.19 billion a year earlier.
The cement producer, together with its parent company Titan Cement International, raised $384 million by selling 24 million shares in its initial public offering, within the targeted range it had marketed earlier.
- Parent organization: Titan Cement International S.A.
- Founded: 1989
- Headquarters: Belgium
- Titan America CEO Bill Zarkalis
- https://www.titanamerica.com/
Titan Cement International will control 87% of the voting power after the IPO.
Citigroup and Goldman Sachs are the lead underwriters for the offering.
Swiss cement giant Holcim said last year it would spin off its North American business into a separate U.S.-listed entity, while German-listed Heidelberg Materials has also considered listing in the country.
