Antitrust charges dropped against Titan America subsidiary
3/13/2012 4:38:00 PM
NORFOLK, Va.--The antitrust cases against the concrete operations of major concrete producers in Florida, which included Titan America LLC's Florida subsidiary, Tarmac America LLC, have been dismissed. On January 3, 2012, FederalDistrict Judge Cecilia Altonaga denied plaintiff's demand for class certification against those concrete operations.
"This outcome vindicates Titan America's long standing position that the allegations against Tarmac America were completely baseless"
"This outcome vindicatesTitan America's long standing position that the allegations against Tarmac America were completely baseless," stated Titan America's General Counsel,Russell Fink. "It is particularly frustrating that, in this period of industry job losses and employee sacrifices, money and focus had to be shifted to litigating against these claims."
Judge Altonaga had previously rejected plaintiffs' allegation of a conspiracy among Florida's cement producers. Following the January 3 ruling, the parties agreed to end the case.
Titan America LLC is the premier heavy building materials producer in theeastern United States. Titan America's products include cement, aggregates, ready-mixed concrete and fly ash beneficiation. Its parent company, Titan CementCompany, S.A., headquartered in Athens, Greece, is a signatory to the UN Global Compact, a group of companies committed to sustainable and socially responsible business practices.