Stellar Materials Inc. has acquired Stellar Canada Inc. and Refractory Resources Ltd., both headquartered in Burlington, Ontario, as well as Cardinal Refractories, Inc., headquartered in Fremont, Ohio.
The three companies were previously owned and operated by a group of individuals who have been important players in the refractory industry in Canada for more than thirty years, noted Stellar Materials in a statement. 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,” stated 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 since 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 commented, “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 continue to operate under the same names.