NALC LLC entered into a joint venture with Alexander House to develop an industrial minerals business called Midwest Calcium Carbonates. The joint venture will be based in Putnam County, Ind.
Midwest Calcium Carbonates includes a new plant located on a portion of the 350-plus acres of reserves NALC controls. The plant processes high-calcium carbonate geology.
“I am very pleased to be partnering with the NALC team,” House says. “This joint venture has allowed us to develop a facility that can reach customers with a variety of applications across the Midwest.”
Additionally, NALC recently completed a buyout of a facility lease from Natural Resource Partners (NRP). According to NALC, NRP provided a portion of the funding needed for the construction of the grind facility in Putnam County.
“Thanks to our strong underlying operations, we are happy to have bought out NRP,” says Greg Gould, CEO of NALC. “Together with our MCC joint venture, NALC is now poised to grow its core business, while dramatically expanding its fine grind business with a well recognized industry leader like Mr. House.”
