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Great Lakes MineralsGlobal StonePerformance Mineralsdirectors/officers
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To better serve existing markets and create new opportunities, we are integrating our Great Lakes limestone and logistics businesses.
The April 2000 acquisition of Michigan Limestone Operations (MLO) represented a strategic value for Oglebay Norton that could far exceed MLO’s immediate contribution to the income statement. The deal established Oglebay Norton as the largest and only fully integrated producer and bulk transporter of limestone on the Great Lakes. It also creates a significant new growth platform for Oglebay Norton – Great Lakes Minerals.
This new segment’s operations supply limestone aggregate and chemical limestone to the construction, environmental and metallurgical markets throughout the Great Lakes region. With quarries, docks and the largest fleet of self-unloading U.S.-Flag vessels on the Lakes, Oglebay Norton has the entire limestone supply chain covered. We can mine stone, process it for end use, and transport it directly to customers with an efficiency that non-integrated competitors cannot match.
As the largest producer of dolomitic limestone on the Great Lakes, MLO significantly increases Oglebay Norton’s presence in the aggregates market. The rising demand for aggregates is coming from a range of major highway and infrastructure projects underway in the region and strong construction activity in Detroit, Grand Rapids and other metro areas.
Oglebay Norton is also expanding its product offerings around the Great Lakes in the building materials market. The Global Stone Portage deal demonstrates how the company intends to leverage its quarry, vessel and dock resources and market connections to develop new customers and markets for limestone-based products.
The 12-vessel fleet will continue to be a major carrier of iron ore and coal for key customers. However, we foresee limestone shipments becoming our largest revenue producer for the logistical side of Great Lakes Minerals.
The acquisitions of Michigan Limestone and Global Stone Portage have created significant opportunities to leverage the company’s logistics operations and expand its customer base and product offerings in the Great Lakes region. Great Lakes Minerals’ operations primarily serve the building materials and construction, energy and metallurgy industries.
President, Michigan Limestone Operations, Inc.
Stuart Theis
President, Oglebay Norton
Marine Services Company, LLC