Polycor continues expansion with Indiana Limestone merger
Polycor Inc, which bought four quarries in France previously operated by Rocamat in July, has now merged with American company Indiana Limestone (ILCO).
Polycor was founded in Québec, Canada, in 1987 and now claims to be the largest producer of natural stone in North America, employing 1,100 people and operating 44 quarries and 17 manufacturing plants in North America and Europe.
ILCO is a leading dimensional limestone quarrier and building products company based in Bloomington, Indiana.
The Polycor-ILCO merger is intended to drive 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 in the natural stone chain.
The announcement of the merger came on 11 October. Patrick Perus, President and CEO of Polycor, said: "This transaction represents another milestone in Polycor's journey to become the global leader in the natural stone industry.
“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 well known brand in North America's natural stone industry. As well as supplying building masonry it also produces hard landscaping 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."
Both the Polycor and ILCO management teams will continue to lead their respective business operations. ILCO's offices in Bloomington will serve as a primary base to support continued expansion in North America.
The four of Rocamat’s 30 quarries bought by Polycor in July are in Burgundy. They include the celebrated Massangis stone. Other stones from the quarries are Rocherons, Charmot, Comblanchien, Lens and Valanger. These stones can be seen in France on such famous structures as the Louvre, the Louis Vuitton Foundation and at the base of the Eiffel Tower.
Polycor will be updating the equipment and infrastructure of the French quarries and is bringing back 18 employees to their original activities at the four sites.
Polycor is already involved in many prestigious projects in Europe, including the renovation of the Grande Arche de la Défense in Paris.
Now the company aims to expand the scope of its activities and offer an improved and expanded line of products in both continents. Polycor will offer the French stone to its Canadian and American clients as slabs, tiles, blocks and cut to size. In Europe, sales will continue through the usual Rocamat channels.