Polycor Acquires New Quarries
TATE, Ga. – Polycor Inc. announced yesterday 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 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, Polycor CEO.
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.
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 United States and Canada because the macroeconomic context is favorable,” Malorie Jolin, Polycor director of finance.
The quarries announced yesterday are:
North Jay White Quarry
The Jay, Maine, location is good entry point into the New England curb, landscape, and architectural markets, as the quarry offers consistent white granite, 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 operation in Fermont, Quebec, 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 Marble City, Okla., quarry adds a new limestone to Polycor’s 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.
Founded in 1987 in Quebec, Polycor provides natural-stone products in North America, transforming granite, marble, limestone, soapstone, quartz, and recycled glass into slabs, tiles, mosaics and landscape products. It produces more than 1.5M cubic feet of raw blocks per year.
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