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Last updated on Monday, May 18, 2015
(OOLITIC) - Indiana Limestone Co., which supplied Indiana limestone for the stone facades for the Empire State Building and the Pentagon, is back on solid ground a year after filing for bankruptcy protection.
Indiana Limestone Co. has doubled its annual excavation figures since it was purchased last May by Chicago-based equity firm Wynnchurch Capital following its Chapter 11 bankruptcy filing.
The company had owed $50 million to more than 1,000 creditors.
The Herald-Times reports the once-struggling company has added 43 jobs, doubled its annual excavation figures and reduced its limestone delivery time to three to four weeks. That's crucial in the construction industry, while competitors still need eight to 10 weeks of lead time.
Company CEO Thomas Quigley says "that's really what has driven a lot of business to us."
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