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at a glance
chairman’s letter
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Great Lakes MineralsGlobal StonePerformanceMineralsdirectors/officers
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A focus on targeted end-use markets has been driving our strategy of profitable growth.
Since being acquired by Oglebay Norton in 1998, Global Stone has served as the cornerstone of the company’s diversification strategy. Through market initiatives and selective divestitures, Global Stone has reduced its dependence on the steel industry and strengthened its position in other markets. This diversification helped balance out the weakness that developed in several sectors in the second half of 2000 and enabled Global Stone to continue its solid contribution to Oglebay Norton’s bottom line.
Beyond its core industrial base, Global Stone is aggressively pursuing three higher-growth markets: building products, environmental applications, and lawn and garden products. We are growing in these segments at rates in excess of GDP. The environmental market has the added attraction of being somewhat independent of the overall economy.
One of Global Stone’s fastest-growing businesses is industrial fillers. These finely ground limestone powders are essential components in the manufacture of a host of building products, including roofing shingles, stucco siding, vinyl flooring, wallboard and carpet backing.
Increasing regulation of air and water discharges and soil quality is driving demand for Global Stone products in the environmental sector. Lime, a limestone derivative, is an extremely effective neutralizing agent and an integral component in most types of environmental treatment. Chemical lime and limestone are the primary products used in flue gas desulfurization, which is being required of more and more coal-fired power plants and major industrial facilities.
Global Stone produces and distributes an extensive line of branded and unbranded lawn and garden products, including pelletized and pulverized limestone, hydrated lime, decorative landscape stones, patio blocks and pavers. The products are distributed to local, regional and national retailers across the Mid-Atlantic, South and Midwest.
A newly acquired limestone processing facility on the south shore of Lake Michigan extends Global Stone filler business into the Midwest. It also exemplifies Global Stone’s growth potential in two of its faster-growing markets: building products and environmental applications. The plant currently produces crushed limestone used in flue gas desulfurization. A major expansion now underway will more than double the plant’s capacity and enable it to supply industrial fillers to a new roofing shingle plant being built nearby.
President, Global Stone Corporation