Polycor, Inc. Acquires Three Natural Stone Quarries
TATE, GA– Polycor, Inc., a North American natural stone provider, has announced 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. They also own the Georgia Marble, Cambrian Black and Alberene Soapstone quarries.
"Polycor distinguishes itself on the international market and from its competitors by possessing some of the best known and patrimonial stones in North America," said Patrick Perus, the company's CEO.
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. "It's a good time for us to make acquisitions in the U.S. and Canada because the macroeconomic context is favorable," added Malorie Jolin, Polycor's Director of Finance.
North Jay White Quarry
The North Jay White quarry in Jay, ME, 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% per year. BQQ produces 25,000 tons of quartz annually with sales exceeding two million dollars 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, OK, 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.
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