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Titan America (TTAM) — the US subsidiary of Titan Cement International — debuted on the New York Stock Exchange via an IPO on Friday. The construction materials company's stock opened slightly higher than the initial pricing of $16, going on to close the session over 4.3% higher.
From the floor of the New York Stock Exchange, Titan America CEO and President Bill Zarkalis expands on the company's public debut and the state of the US construction market with Julie Hyman and Josh Lipton.
Zarkalis identifies "investment infrastructure, the resilient urbanization, the investment in manufacturing reshoring" as several contributing factors to construction companies and suppliers' pivot to the US market.
"We see that the medium to long term... trends are extremely strong. We feel that the trends are secular trends," he tells Yahoo Finance, commenting on the market conditions created by the Trump administration:
"The demographics, also the household formation, supports strong build-up in the construction industry, especially in the residential, but also the infrastructure, especially the deregulation that this administration is going to bring is going to shorten the time between planning a project and executing a project, breaking ground. And we feel that this is going to accelerate the growth."
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Also catch Yahoo Finance's coverage of why hiring is slowing in the construction industry over the past month.
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This post was written by Luke Carberry Mogan.