Fairmount Santrol and Unimin Corp. announced that they have received the regulatory approvals required to complete their announced merger, including approval from the Mexican Federal Economic Competition Commission (COFECE). The companies also revealed the approval by a majority of Fairmount Santrol shareholders at the special shareholder meeting held May 25.
As reported earlier, the combined company will be named Covia Holdings Corp. and will begin trading on the New York Stock Exchange under the ticker symbol “CVIA.”
Jenniffer Deckard, former president and chief executive officer of Fairmount Santrol, who now serves as president and chief executive officer of Covia, said, “Covia will bring together the strengths of both companies to create an industry leader in mineral and material solutions for the energy and industrial markets. Covia will be strongly positioned to serve customers’ needs through our broad array of high-quality products, distinctive technical capabilities, and the industry’s most comprehensive production and distribution network. We believe these competitive advantages will enable us to achieve our targeted synergy goals while creating greater value for all of our stakeholders.”
Deckard added, “We are very proud of the people at both legacy companies and would like to thank everyone for all they have done to help us achieve our goal of creating an industry leader. We have a very talented team and I look forward to what we will accomplish together at Covia.”