NYCO and its subsidiaries and affiliated companies were acquired by Resource Capital Funds (RCF) IV LP last month. RCF private equity funds are headquartered in Denver, Colo., and Perth, Australia, and invest exclusively in mining companies across a diversified range of commodities and geographic regions. Under the new ownership, Jay Moroney returns to NYCO as president and CEO, a position he held between 1990 and 1998.
“Our immediate focus will be to assure our customers that NYCO will continue operating as the world’s leading wollastonite supplier,” said Moroney. “In addition, our attention will be directed toward developing new products and next generation surface modifications, plant capitalization projects that will improve quality and yields, and strategic logistic options to allow re-entry into a number of worldwide markets.”
The NYCO companies will continue to operate as they did prior to the acquisition, with no interruptions in production or service. RCF has retained all current employees of NYCO and plans to expand NYCO’s professional staffing, particularly in finance, technology and sales.
For more information, call (518) 894-2636, e-mail email@example.com
, or visit www.nycominerals.com