GLOBAL STONE COMPLETES ASSET PURCHASE IN PENNSYLVANIA.OAKVILLE Oakville, town (1991 pop. 114,670), Ont., Canada, on Lake Ontario, between Toronto and Hamilton. A major component of the local economy is the Ford Motor Co plant, one of the largest auto plants in Canada. Originally inhabited by the Mississauga, it became a shipbuilding center in the 19th cent. because of its good harbor., ONTARIO--(BUSINESS WIRE)--June 29, 1995--GLOBAL STONE (TSE: GLS) Global Stone Corporation today completed the purchase of the assets of PenRoc Inc. and Delta Carbonate Inc. situated in York, Pennsylvania as announced on April 24, 1995. The purchase price of US$7.4m was paid from existing cash balances. The assets comprise three high purity calcium limestone quarries, construction aggregates processing, ground calcium carbonate and high-brightness white filler plants, together with inventories. The operations have been regrouped as a new subsidiary company - Global Stone PenRoc Inc. Global Stone has now made five North American acquisitions in a little over two years. Commenting on this latest purchase David Singleton, president said: "This acquisition further consolidates our position in the United States and is another step forward in our continuing growth as a major industrial minerals and construction aggregates supplier in North America". Global Stone Corporation is a public company listed on the Toronto Stock Exchange. Headquartered in Oakville, Ontario, it is engaged in the extraction and processing of high purity limestones into lime, limestone powders and fillers, as well as construction aggregates, from operations in Ontario, Tennessee, Virginia, Michigan and Pennsylvania. CONTACT: Global Stone Mike Niblett or Herb Wilson (905) 815-1050 INDUSTRY KEYWORD: MINING REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion