 |
 |
||||||
[February 2008]
Carmeuse Closes Acquisition of Oglebay-Norton
Carmeuse Lime & Stone (Pittsburgh, PA, USA), the largest subsidiary of the parent company Carmeuse Group, located in Louvain-la-Neuve, Belgium has completed the acquisition of Oglebay-Norton. Carmeuse was announced as the successful bidder for Oglebay Norton on 12 October 2007 with a bid price of US$36 per share. The transaction was subject to a Hart-Scott-Rodino filing and the successful result of that filing has made way for the completion of the transaction.
“We are delighted to be in a position to close this transaction today, and welcome the Oglebay Norton employees into Carmeuse,” said Thomas Buck, President and CEO of Carmeuse Lime and Stone on 13 February. “The Oglebay acquisition brings Carmeuse significantly expanded reserves of high quality limestone, diverse markets and products, well positioned production facilities, and a strong team of experienced people. We will utilize our increased geographic footprint and diverse market presence to expand our offering of products and services to our customers."
Carmeuse will use the acquisition to expand its offering to the growing flue gas desulphurisation market and to diversify its business base with product lines in filler materials and industrial sands.
Carmeuse Lime & Stone is the largest producer of lime products in North America, manufacturing and distributing over six million tons per year of lime products. It produces and sells a further four million tons of chemical grade limestone and aggregates. Its 14 manufacturing facilities supply and serve 27 states and provinces in the eastern USA and Canada and employ over 1,200 people.
ENDS