Sep 14 2015
Polycor, Inc., a North American natural stone provider, announces the acquisition of three quarries in Maine, Canada, and Oklahoma. The acquisitions, in partnership with PNC Bank, will boost domestic stone production and expand the company's product line. Polycor owns and operates 25 quarries and five fabrication plants across North America.
Polycor has the largest team in the stone industry with 350 employees and 20 sales representatives in North America, Europe, and Asia. The company has made sound business decisions in the past, purchasing renowned assets like the Georgia Marble, Cambrian Black, and Alberene Soapstone quarries. According to Patrick Perus, Polycor's CEO: "Polycor distinguishes itself on the international market and from its competitors by possessing some of the best known and patrimonial stones in North America." National landmarks such as the U.S. Capitol, the New York Stock Exchange, and the Jefferson Memorial, are made of Polycor stones.
A 2015 financial partnership with PNC will continue to open up growth opportunities for Polycor. According to Malorie Jolin, Polycor's Director of Finance: "It's a good time for us to make acquisitions in the United States and Canada because the macroeconomic context is favorable.''
North Jay White Quarry
The North Jay White quarry in Jay, Maine is a good entry point into the New England curb, landscape, and architectural markets. The consistent white granite has great commercial potential, prompting Polycor to open a plant nearby. It's a sizeable investment that is expected to be profitable. Founded in 1912, the Jay Quarry contributed to the growth of the area, employing hundreds of workers. The reopening of the quarry and the new plant is the next chapter in Jay's history.
Boreal Quartz Quarry
The purchase of the Boreal Quartz quarry (BQQ) in Fermont, Canada also opens new doors for Polycor to diversify its asset base and contribute to a healthy, growing quartz market. Polycor will supply high purity, transparent quartz to North American quartz slab manufacturers, currently reporting growth of over 15% p/year. BQQ produces 25,000 tons of quartz annually with sales exceeding $2M and has the potential to become a raw material source for the booming silicon metal, aluminum, and solar panel industries.
St. Clair Quarry
The St. Clair Limestone quarry in Marble City, Oklahoma is Polycor's third acquisition in 2015, adding a new limestone to its product line. The dense, dolomitic limestone has been quarried since the 19th century and will achieve a high polish, similar to marble. Polycor will offer the high-quality limestone for luxury residential applications, landscaping, and commercial projects as well as for 1 cm ultra-thin reinforced slabs for modern designs.
Source: http://www.polycor.com/