Bloomington-based Indiana Limestone Co. has merged with a natural stone quarrier in Canada. Polycor Inc. in Quebec City is not releasing financial terms of the merger but says Indiana Limestone’s operations in Monroe County will continue as normal.
Polycor says the merger is expected to drive meaningful growth through cross-selling synergies, geographic expansion, and sharing best practices. President Patrick Perus calls the deal a milestone for the company, which it says is now the world’s leading producer of natural stone outside of China.
The combined company has nearly 1,100 employees, more than 44 quarries, and 17 manufacturing plants throughout North America. Polycor says the management teams of both companies will continue to lead their respective business operations.
"Our business today touches the lives of dealers, fabricators, distributors and architects worldwide. We are proud to be a part of a great industry," Tom Quigley, chief executive officer of ILCO, said in a news release. "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."
Polycor says customers of both companies can expect a seamless transition and no disruption to service.