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TRANSCRIPT
Hi, I’m K. Schipper with the latest in hard surfaces industry news from Radio Stone Update.
0:33
A Spanish financial publication reported that surfaces producer Cosentino Group is considering issuing a stock offering later this year that would involve a partial stake in the company.
Expansion declared last month that the family-held company hired investment banking firms Goldman Sachs and JPMorgan as “global coordinators” for an offering that might come as soon as this summer. The publication estimated that Cosentino’s total value could exceed €3 billion at the time of the offering, depending on the company’s financial performance in 2022.
Cosentino Group is wholly owned by three brothers of the Martinez-Cosentino Justo family. Expansion reported that sources believe the family would maintain majority control over the company and offer a minority stake only. If Cosentino goes ahead with a public offering, it would be the largest one in Spain in two years, according to Expansion.
Key details would need to be worked out before an offering. A likely scenario would involve major investment groups, although there could be a small part for individual investors. Cosentino’s main business is surfaces with natural stone, Silestone® quartz and Dekton® ultra compact products. The company also has a number of real-estate holdings in Spain.
1:54
Buddy Ontra of Ontra Stone Concepts in Bridgeport, Conn., is the Person of the Year for the Natural Stone Institute. Ontra, the outgoing president of the institute, was cited for his volunteer work and leadership of the group in the immediate post-COVID era.
The award was presented during the Natural Stone Institute’s annual awards ceremony held last week as part of The International Surface Event – TISE – and StonExpo. Ontra only learned of his selection during the ceremony.
In accepting the award, Ontra said, “I’m speechless, for once.” In addition to serving as NSI president during 2022, Ontra participated in the new Environmental Product Declaration for natural-stone countertops, sought association involvement with the natural-stone hardscape industry, and guided the relationship between the NSI and its Natural Stone Foundation philanthropic arm.
NSI CEO Jim Hieb cited Ontra for his understanding of how important in-person events are to the industry right now, and that it is important key volunteers be seen by the membership. Hieb estimated Ontra attended three times the events expected of him.
In a video before the presentation, Ontra reflected on his year as president, saying he’s enjoyed giving back to the industry which has put food on his family’s table for many years. He ended by saying, “While I’m proud of this and so many other industry initiatives undertaken, the true reward has been the friends you make along the way.”
3:31
The International Surface Fabricators Association – the ISFA –has opened its annual awards for submissions. The awards are open to all member fabricators. Seven of the awards are project-based.
The categories are: Commercial Solid Surface Project of the Year; Residential Solid Surface Project of the Year; Commercial Mineral Surface Project of the Year; Residential Mineral Surface Project of the Year; Commercial Quartz Project of the Year; Residential Quartz Project of the Year, And; Sustainable Project of the Year.
Projects must employ the designated surface and meet the ISFA minimum standards for the material. They must also exemplify excellence in all methods of the fabrication process, including safety, training and the use of technology. Projects must have been completed within the previous two calendar years. The deadline for submissions is June 30, 2023.
In addition, two awards are given to individuals or companies that excel in the industry. The Fabricator of the Year Award recognizes an individual or fabricator member organization that best exemplifies excellence in business using the ISFA ideals. Current active members of ISFA may submit nominations for this award.
The ISFA Hall of Fame Award recognizes an individual who has, during their, career made significant contributions to the decorative surface industry and demonstrated leadership and a commitment to the association’s ideals. Again, current active members of ISFA may submit nominations for this award.
Winners will be announced and awards presented during the 2023 ISFA annual conference Oct. 16-19.
6:29
Scientists are using a novel approach that could improve how artifacts made from marble are preserved. A study published in “Applied Surface Science” tells how a team from the Sydney campus of the University of New South Wales in Australia and the University of Bologna, Italy, combined computational modeling with experimental methods to measure whether different organic solvents like alcohol can improve a protective treatment used for marble preservation.
They found that while the range of solvents behaved differently on the marble surface, all enhanced the treatment similarly. The study notes that while marble is coveted for its aesthetic qualities, when exposed outdoors it is prone to deterioration. The study is working on ways to help preserve marble artifacts for future generations.
In recent years, a new treatment has been developed by conservation scientists to improve the resistance of marble to rain. The treatment works by forming a durable protective coating on the marble surface composed of calcium phosphate, a naturally occurring mineral also found in teeth and bones. Unlike other treatments, it causes no discoloration or aesthetic change to the marble.
The study was done using ethanol, isopropanol and acetone on the calcite surface of a Carrara marble sample. The different organic solvents displayed different behaviors when they approached the marble surface in the modeling, but each solvent improved the protective performance of the treatment. In the next stage of the research, the team plans to test whether factors other than adsorption are responsible.
8:05
Natural-stone producer Coldspring announced the retirement of two of its top executives, and the restructuring of its leadership team as the company celebrates its 125th anniversary in 2023. The announcement was made by Greg Flint, president and chief operating officer.
Leaving the company this year are Dan Rea, senior vice president of sales, and George Schnepf, chief financial officer. Rea will retire in February and Schnepf will retire in December. Flint praised the leadership of both men, and said it will help guide Coldspring and the industry for decades.
Rea began his career at Coldspring in operations in 1977. In 1980 he left the company to serve in the U.S. Air Force. After his honorable discharge he returned to Coldspring and its operations department. From there, he moved to the drafting department and then was promoted to project manager. After working as general manager of construction services, he moved into sales management in 2003. Rea has also served as president of the Natural Stone Institute and was presented with the Migliore Award for Lifetime Achievement by the institute at last week’s annual award ceremony.
Schnepf, a Certified Public Accountant, joined Coldspring in 1988 and has been the chief financial officer at Coldspring for most of his 35 years with the company. His leadership at Coldspring has been focused on a broad range of functions, including finance, tax and accounting, information technology, human resources, real estate, purchasing, logistics and more.
In other news around the industry….
9:49
Polycor Inc., has acquired Ebel Quarries, a Canadian limestone producer, in a deal that closed Feb. 1. Terms of the acquisition were not announced. A statement from Polycor announcing the acquisition noted that it will allow the Quebec-based company to expand its presence in Ontario. Ebel is based on Wiarton, Ontario.
Ebel Quarries is a family-owned company that has been quarrying and marketing high-end limestone since 1950. Polycor CEO Patric Perus says Ebel is an ideal partner to expand its offerings both on the Canadian and international markets. The Polycor Group also expands its environmentally friendly product offer in order to meet increasing demand while supplying customers with a sustainable alternative to concrete.
10:40
If you were in Las Vegas last week and thought it seemed a little busy – it was. The co-location of the National Kitchen & Bath Association’s Kitchen and Bath Industry Show – KBIS – with the National Association of Home Builders International Builders Show – otherwise known as Design and Construction Week — The International Surface Event – TISE – the National Hardware Show and the Las Vegas Winter Market drew an estimated 200,000+ housing and design professionals to the Nevada desert.
Design and Construction Week organizers say that event drew the most attendees in its ten-year history, with 40,000 people attending KBIS and nearly 70,000 people taking part in the International Builders’ Show which were held at the Las Vegas Convention Center. Those with tickets to any one of the events could attend all five. Next year Design and Construction Week will be back in Las Vegas, but at the end of February.
11:37
The testing laboratory for the Tile Council of North America – the TCNA – is changing its name. The Product Performance Testing Laboratory is now known as the International Product Assurance – or IPA – Laboratories. A full branding reveal will take place at Coverings in Orlando, Fla., from April 18-21.
Katelyn Simpson, TCNA’s director of laboratory services says the name change reflects a broad growth in services offered by the lab as well as the search for better ways to communicate its diverse range of international testing services. The TCNA lab has been providing independent internationally trusted testing services for more than 60 years on a variety of surface coverings. The lab is located adjacent to the Clemson University Innovation Campus and Technological Park in Clemson, S.C.
Remember, the latest issue of Stone Update Magazine is at www.magazine.stonemag.com. Our newsletter, Slab & Sheet, comes out on alternate Wednesdays. For a transcript of this issue of Radio Stone Update, go to www.radiostoneupdate.com
For Radio Stone Update, I’m K. Schipper, and we’ll see you here again soon.
