TITAN America Marks ‘US Liberation Day’ on Wall Street

‘Liberation Day’ against Donald Trump was observed yesterday (April 2, 2025), with European entrepreneurs—key shareholders—finding themselves in a precarious position. The unique representative from Greek industry on Wall Street (USA) is TITAN America, a subsidiary of the TITAN Cement International group, showcasing an interesting financial presence during this period. The fluctuation range reaches $12.97 to $13.50, with the year’s high at $17.78, trading 430.38 million shares under the code TTAM-NYSE, achieving a market value of $2.44 billion. Meanwhile, the parent group TITC, listed on Euronext and the Athens Stock Exchange, does not exceed $3.57 billion. This case illustrates how a business size in the European market can be significantly smaller than its equivalent in the USA, particularly on Wall Street. The journey of the historic Greek cement industry across the Atlantic began in 1985 with the first export of Greek cement to the USA. Within three years, TITAN built a distribution station at Port Newark, New Jersey. By 2024, it became a landmark year for TITAN America, as the American market fed most of the consolidated group results despite adverse weather conditions in the eastern states. Cement sales increased by 2% to 17.8 million tons, all exports directed through TCI import stations, primarily to TITAN America in the USA. In contrast, exports to European stations in France, the UK, and Italy decreased, highlighting the slowdown in construction activity in Eurozone markets. Steady growth marked the subsidiary’s performance in the USA, notably from 2013–2023. Revenue rose from $539 million to over $1.6 billion (11% CAGR), net profits from $65.4 million to $155.2 million, and adjusted EBITDA from $36 million to $325 million. Exponential growth since 2021 enabled raising nearly $400 million through IPO for just 15% of the subsidiary’s market capitalization. TITAN America’s management likely enjoys greater growth prospects in the US market compared to Europe, with easier access to investment/capital resources, leveraging significant incentives provided by Washington. Additionally, the states where the subsidiary operates benefit from being Republican-friendly and experiencing growth rates—and thus demand for cement and building materials—multiple times higher than others.