(Editor's note: Original article changed to reflect retention of Anderson Bros. & Johnson granite business by Michels Corp.)
BROWNSVILLE, Wis. – Michels Corp. sold substantially all of the assets of its Michels Stone division to Fond du Lac Stone Inc., an affiliate of National Stone Veneers International Inc. (NSVI).
Terms of the transaction, which closed on Saturday, weren’t disclosed.
The sale of assets resulted in the closing of Michels Stone, a retail business involving dimensional and landscape stone. Michels Corp. will continue to operate its aggregate division and retain the Anderson Bros. & Johnson operations for Wausau Red Granite and other dimensioanl stone.
“This transaction was driven by our Board of Directors,” said Patrick D. Michels, president/CEO of Michels Corp. “Strategically we believe this transaction will allow Michels to remain focused on our core construction businesses during a time of anticipated growth in the construction industry.”
Michels Corp. began as a gas-pipeline contractor, servicing Wisconsin utilities, in 1959, and now includes more than 5,000 employees in 30 locations across the United States and Canada for dealing with pipelines, heavy civil construction, communication networks, power delivery, railway work and other utility-contractor-related activities.
The company entered the aggregate business in 1976 and is now the largest aggregate producer in Wisconsin.
Michael Corp. acquired its main dimensional/landscape stone-production company, Anderson Bros. & Johnson, in 2002. The assets included quarrying of the only deep red granite in the United States.
NSVI opened in Fond du Lac, Wis., in 2002, and now offers 60 standard products marketing through a network of distributors in the United States. In addition to the Fond du Lac headquarters/sales/production campus, the company operates a second production facility in Bulgaria.
- Category: Company Insider Company Insider
- Published: 20 November 2017 20 November 2017