U.S. Silica Holdings Inc. announced an agreement to acquire a leading regional sand producer for approximately $210 million. The acquisition of the NBR Sand unit of the privately owned New Birmingham Inc. is expected to close in August 2016, subject to certain adjustments at closing. The transaction will be funded using a combination of cash on hand (57 percent) and…
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This Week’s Market Buzz
A Texas based frac sand mining company is backing out of plans to develop a 1,600 acre mine and processing plant in Trempealeau County, Wis. Over the last year, Superior Silica Sands has been in the process of developing a plant between the cities of Independence and Arcadia. As part of the project, Independence annexed the property, but controversy about…
Read MoreU.S. Silica Doubles Income in 2014
U.S. Silica Holdings Inc. announced net income of $33.2 million or $0.62 per basic share and $0.61 per diluted share for the fourth quarter ended Dec. 31, 2014, compared with net income of $16.5 million or $0.31 per basic and diluted share for the fourth quarter of 2013.
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The Houston County, Minn., board of commissioners revealed its proposed frac sand mining ordinance establishing a number of restrictions, limitations and environmental protections. The new ordinance limits the volume of sand that can be mined per year, requires mines to comply with a road use and maintenance agreement, and gives county officials the authority to issue environmental reviews. It also…
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The Wabasha, Wis., city council voted to extend its frac sand moratorium for another year in order to get more complete information on air quality, truck traffic and environmental concerns, according to the Winona Daily News. Although the frac sand moratorium was extended, a moratorium on truck traffic was not. The council at the same meeting allowed that moratorium to…
Read MoreWISA Members Go Green
According to the Wisconsin Industrial Sand Association (WISA), three member companies were accepted into the Wisconsin DNR Green Tier program for environmental stewardship.
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