Bankruptcy and Construction and Real Estate & Retail

Indiana Limestone gets back to work under new owner

May 14, 2014

An Indiana company known for supplying limestone to the Empire State Building and the Pentagon is cutting stone under new ownership after going through bankruptcy.

Indiana Limestone Co. technically closed and laid off all its workers earlier this month to fulfill a bankruptcy plan, then a few days later reopened with the new owners and rehired employees.

The Oolitic-based company's president said stone is being quarried from its Oolitic and Bloomington sites, with fabrication work being done in Bloomington.

Duffe Elkins told The Herald Times the company's loyal employees helped make it attractive to the investment firm Wynnchurch Capital.

The firm bought the limestone company's assets for about $26 million after it filed for bankruptcy protection in February and notified state officials it would lay off 166 workers.

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