Polycor has merged Indiana Limestone Company (ILCO), a quarrier and building products producer, as part of a strategy to expand its geographic footprint.
Polycor says the deal will allow both companies to share best practices and provide an expanded product offering for customers.
Under the terms of the agreement, all plants and quarries will continue to operate as usual with both management teams leading their business operations going forward. Also, existing ICLO shareholders will become 'significant minority shareholders' as the business enters its next phase of growth.
Tom Quigley, CEO of ILCO, says: “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.”
ILC’s Bloomington office will serve as a primary base to support further expansion in North America.
