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U.S. Silica Reports Decline for First Quarter

U.S. Silica Holdings Inc. announced net income of $14.8 million or $0.28 per basic and $0.27 per diluted share for the first quarter ended March 31, 2015, compared with net income of $18.4 million or $0.34 per basic share and diluted share for the first quarter of 2014. Earnings per share during the quarter were negatively impacted by $8.3 million of business development expenses, $7.6 million of which was related to an adverse, unanticipated arbitration ruling.

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Victory Nickel Frac Sand Sales Decrease

Victory Nickel Inc. announced that frac sand sales during the first quarter of 2015 have been slower than anticipated. Sales decreased monthly from January to March and, as a result of current market conditions the company has temporarily suspended production at its Seven Persons, Alberta, Canada, frac sand plant (7P). The 7P Plant was just entering its full production stage following the start-up period towards the end of 2014.

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Hi-Crush, ARB to Develop Rail Hubs

Hi-Crush Partners LP and ARB Midstream LLC announced that the companies have entered into definitive agreements to jointly develop and operate two energy rail hubs, one in the DJ Basin and one in the Permian Basin. Both facilities will be served by the Union Pacific Railroad, and will provide unit and manifest train capabilities for frac sand and crude oil. Hi-Crush will operate the frac sand terminals at these facilities, with the frac sand sourced from its production facilities in Wisconsin, and ARB will operate the crude-by-rail terminals.

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