Tag Archive | "merger"

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MIA+BSI Members Vote Yes to Merger

Posted on 01 December 2017 by cradmin

mia bsi natural stone institute logoWith a vote of 565 to 25, the memberships of Marble Institute of America (MIA) and Building Stone Institute (BSI) have overwhelmingly decided to authorize a historic merger of North America’s two most prominent stone associations. Effective January 1, 2018, the combined association will formally be known as the Natural Stone Institute, a name widely used during the two year joint venture.

The Natural Stone Institute would like to thank those members who voted and everyone who has participated in the dialogue about the merger. Your trust, support and guidance has helped make this merger possible. Together, members will continue with resolve to provide the best technical, educational, and promotional support for the growing membership and the natural stone industry, as well as expand outreach to the design community. As a result the Natural Stone Institute now has the combined assets to become the largest and most influential natural stone association in the world.

The combined staff emphasized that they share the members’ passion to advance the industry. Natural Stone Institute has a dynamic team of dedicated people who have come together over the past two years to prove this union can work, and that merging is the best move for the industry.

In 2018, David Carnevale (Carnevale & Lohr) will serve as the first president of this merged organization. Greg Osterhout (Northern Stone Supply) will serve as vice president, Robert Zavagno (Cleveland Marble Mosaic Co) will serve as secretary, and Kathy Spanier (Coldspring) will serve as treasurer.

Carnevale commented: “I look forward to serving as first president of the Natural Stone Institute. I want to thank the many current and past industry leaders from BSI and MIA who had the foresight to see what was possible with a merger. The Natural Stone Institute is well positioned to further advance the combined association’s role as a technical and educational leader. We will continue to offer a wide array of opportunities for networking with both industry and design professionals.”

The membership of the combined association will exceed 2,000 members. The leadership will focus on technical and education initiatives intended to further advance the use of natural stone. A new association logo will officially debut at TISE 2018 in January.

You may also be interested in this article about Architectural Surfaces Group

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DuPont and Dow Announce Merger Deal, Ramifications for Surfacing Unknown

Posted on 15 December 2015 by cradmin

dupont-dow mergerOn December 11, DuPont and Dow announced they have agreed on a merger, valued at $130 billion. After the merger, the new company monikered “DowDuPont,” plans to split into three separate companies within 18 months to two years after the deal closes. DuPont has said it plans to cut 5,000 employees, assuming the deal is approved by regulators, stock holders and board members. The chemical giants have a variety of overlapping products, but in the countertop/surfacing field only DuPont is a player with its Corian solid surface and Zodiaq quartz surfacing products.

Interestingly DuPont’s surfacing line appears to have recently taken a hit when one of it’s largest distributors that covered 17 states, Colt Industries, announced it was parting ways with the DuPont and would no longer be distributing Corian or Zodiaq surfaces. This merger and the potential synergies or chaos, depending on whether or not the building products division is something that receives additional attention or loses focus, is another unpredictable factor tossed in. Certainly as additional details become available, this media outlet will continue to bring you information.

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The Swan Corporation Seeks Buyer, Investor, Partner

Posted on 02 September 2015 by cradmin

The Swan Corporation, a manufacturer of solid surface bath and kitchen fixtures, has retained mergers & acquisition specialist Heritage Equity Partners to seek an investor, partner or buyer for the business. Based in St. Louis, the company has a 350,000-sq.-ft. manufacturing facility in Centralia, Ill., and has been in business for more than 50 years. Swan’s solid surface products are compression molded instead of being cast, so they do not require additional fabrication, reports the company. Its product lines include bowls, countertops, kitchen sinks, shower bases and walls, tabletops and vanites. The corporations most recognized product lines are Swanstone and Veritek, and it has been a special order supplier to retailers such as Home Depot, Lowe’s and Menard’s for many years. The company also distributes through “master stocking distributors” and numerous plumbing wholesaler distributors. Swan also has international sales and “ample capacity to expand both domestically and internationally,” according to a statement from the organization. It services the home improvement, education, healthcare, hospitality, military, multi-family and public housing sectors.

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