Stellar Materials Announces Acquisition of Three Companies
The acquisition of three companies by Stellar Materials will benefit the entire group of companies and help Stellar continue its growth and expansion as a premier solution provider to the refractory consuming industry.
May 16, 2014 (Newswire.com) - Stellar Materials Incorporated is proud to announce its acquisition of three companies: Stellar Canada Inc., Refractory Resources Ltd. (both headquartered in Burlington, Ontario Canada), and Cardinal Refractories, Inc., headquartered in Fremont, Ohio.
These three companies were previously owned and operated by a talented group of individuals who have been important players in the refractory industry in Canada for more than thirty years. They have built a substantial business reaching well beyond the borders of Canada offering unique, high quality solutions to the refractory consuming industry.
"Combining our resources will benefit the entire group of companies," said Stellar Materials President David Mintz, "and will help Stellar continue its growth and expansion as a premier solution provider to the industry."
This is partially a vertical integration, as Stellar Canada Inc. has been a long-standing and important strategic partner to - and re-seller for - Stellar Materials. "A significant benefit of this acquisition is that it provides additional and compatible solutions to our existing markets, creating new opportunities for growth," said Mintz. "Likewise, the combining of companies is advantageous to the Canadian group as it brings resources that will help foster a quicker market expansion of the unique products that they offer."
Former CEO of Stellar Canada Inc. Don Scott comments, "The acquisition of our companies by Stellar Materials, a company that we literally have grown-up with, is recognition of everything we have worked for over a 22-year period; proven quality solutions for the industry, quality personnel throughout our companies, and now even greater future growth opportunity for all."
For the time being the companies will operate under the names: Stellar Canada, Refractory Resources, and Cardinal Refractories Inc.
For more information, contact Stellar Materials Incorporated, 7777 Glades Road, Suite 200, Boca Raton, Florida 33434 USA. Phone (Main): 561-330-9300, Fax: 561-330-9355, Web: http://www.stellar.us