Polycor now establishes itself as the global
leader in the natural stone industry.
QUEBEC CITY, Oct. 11, 2018
/PRNewswire/ - The largest producer of natural stone in
North America, Polycor Inc., is
pleased to announce the completion of its merger with Indiana
Limestone Company ("ILCO"), a leading dimensional limestone
quarrier and building products producer headquartered in
Bloomington, Indiana. This
announcement comes shortly after Polycor's recent acquisition of
four limestone quarries in France
in July, now positioning the company as a global leader in the
natural stone industry.
United by a common business culture, the merger is expected to
drive meaningful growth through cross-selling synergies, geographic
expansion, and sharing of best practices. In addition, the merger
will provide an expanded product offering for customers of both
companies, positioning the combined business as the solution of
choice for architects, builders, dealers and other stakeholders in
the natural stone value chain. Existing customers and suppliers can
expect a seamless transition and to receive the same quality of
service they have come to expect over time.
"This transaction represents another milestone in Polycor's
journey to become the global leader in the natural stone industry,"
says Patrick Perus, President and CEO of Polycor Inc. "we are
thrilled to be joining forces with the leading producer of
Indiana limestone in ILCO, and
look forward to welcoming this world-class team into the Polycor
family." ILCO is a Nationally recognized brand in North America's natural stone industry, with
its stone being used in the construction of some of the U.S. most
iconic buildings and monuments. ILCO also produces a wide range of
natural stone masonry and hardscape products for use in
residential, commercial, institutional and renovation
applications.
Tom Quigley, CEO of ILCO, said
"Our business today touches the lives of dealers, fabricators,
distributors and architects worldwide. We are proud to be a part of
a great industry. Now, by joining with Polycor, a business partner
with whom we share common values, passion and ambition, there is
unlimited potential to expand our offering and deliver even greater
value to our customers."
Through this merger, both companies expect continued growth and
momentum in all phases of business operations. As such, all plants
and quarries will continue to operate as normal, with both the
Polycor and ILCO management teams leading their respective business
operations going forward. Existing ILCO shareholders will become
significant minority shareholders in the go-forward entity as the
business embarks on its next phase of growth. With a more
diversified and expansive geographic presence, ILCO's offices in
Bloomington will serve as a
primary base to support continued expansion in North America.
About Polycor Inc.
Polycor Inc. is the world's leading
natural stone quarrier and its core mission is to make people fall
in love with natural stone. Their world-class reputation comes from
a great legacy of stone work on historical landmarks,
institutional, commercial and residential projects. Founded in
Québec City (Canada) in 1987, the
company now employs nearly 1,100 people and owns over 44 quarries
and 17 manufacturing plants across North
America and Europe. For
more information, visit their website or follow their social media
profiles on Facebook, Twitter, LinkedIn and Instagram.
About ILCO
Indiana Limestone Company is unmatched as
the premier supplier of Indiana
limestone in a range of beautiful and lasting building products.
Founded in 1926 (with predecessor firms that had been quarrying
limestone since the mid-1800s), Indiana Limestone Company today
remains the provider of choice for this internationally renowned
natural stone. Throughout an illustrious history in which its stone
has made such iconic structures as the Empire State Building,
National Cathedral, and the Pentagon, Indiana Limestone Company has
reliably provided the highest quality products and services
carefully tailored to the needs of the market with an
environmental, natural focus.
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SOURCE Polycor Inc.