Rock Products - The Leading Voice of the Aggregate Industries.

This Week’s Market Buzz

• The Organization of the Petroleum Exporting Countries (OPEC) reached a deal to cut back on oil production by 1.2 million barrels per day to raise global prices. OPEC nations currently produce about 33.7 million barrels of oil per day. Under the deal, they’ll bring that down to 32.5 million barrels per day, with Saudi Arabia, Iraq, UAE and Kuwait making the biggest cuts. Global oil prices rose nearly 9 percent on the news, with Brent crude rising from $46 per barrel up to $51 per barrel.

Read more: This Week’s Market Buzz

Fairmount Santrol Third-Quarter Report Offers Promise

Fairmount Santrol announced results for the third quarter of 2016. Third-quarter revenues were $134.8 million, up 18 percent from $114.2 million in the second quarter of 2016 and down 21 percent from $171.0 million for the third quarter of 2015. Overall volumes sold were 2.4 million tons for the quarter, an increase of 24 percent from 2.0 million tons in the second quarter of 2016 and an increase of 19 percent from 2.0 million tons in the third quarter of 2015.

Read more: Fairmount Santrol Third-Quarter Report Offers Promise

OmniTRAX Acquires Assets of Terracor Group

OmniTRAX Inc. has agreed to acquire all assets of Terracor Group, a frac sand logistics company, including three transload facilities with vertical silo storage in Texas and Montana. Included in the transaction is a high-quality frac sand mining opportunity located in Wisconsin.

Read more: OmniTRAX Acquires Assets of Terracor Group

BMC Opens Research and Development Center

A previously unoccupied building in Taylor, Wis., is now home to Badger Mining Corp.'s (BMC) new state-of-the-art Research and Development Center. Renovations to the 5,280-sq.-ft. building, which at one time housed an athletic apparel business and more recently was used for larger meetings and gatherings, began in September 2015 and were completed in early 2016. Final additions to the lab area continued until completion this summer.

Read more: BMC Opens Research and Development Center

New Products
Article Count:
9
Analysis
Article Count:
8
Producer News
Article Count:
16
Market Buzz
Article Count:
99
Frac Sand
Article Count:
416