Covia announced that it has executed a definitive agreement to sell its Winchester and Western Railroad (W&W) to an affiliate of OmniTRAX Inc. for total proceeds of $105.0 million in cash, subject to certain adjustments set forth in the definitive agreement. As part of the transaction, OmniTRAX will assume ownership of approximately 470 railcars, which the W&W currently owns.
Read MoreDay: August 8, 2019
U.S. Silica Posts Strong Second Quarter
U.S. Silica Holdings Inc. announced net income of $6.2 million, or $0.08 per basic and diluted share for the second quarter of 2019. In its oil and gas segment, the company is reporting:
Read MoreBlack Mountain Partners with Hexion
Black Mountain Sand LLC and The Oilfield Technology Group (OTG) of Hexion Inc. announced a partnership created to provide in-basin production of resin-coated proppants. The partnership utilizes Hexion’s Voyager SM mobile resin coating service and substrate from Black Mountain Sand.
Read MoreHi-Crush Sand Revenues up in Second Quarter
Hi-Crush Inc. is reporting revenues of $178.0 million in the second quarter of 2019 as compared to $159.9 million in the first quarter of 2019.
Read MoreThis Week’s Market Buzz
• At press time, Brent crude October futures lost as much as 5.2% to $55.88 a barrel, and prices have decreased more than 20% since their year-to-date peak in April. Meanwhile, U.S. West Texas Intermediate crude futures also slid as much as 5.8% to $50.52 a barrel.
Read MoreBunting Rebrands
On Aug. 3, Bunting Magnetics Co. celebrated its 60th anniversary as a company. Since being founded in 1959, Bunting Magnetics Co. has grown from a small company in Chicago, to a growing global force with multiple locations in the United States as well as abroad. Bunting Magnetics Co. has acquired several different companies over the years, and in celebration of the 60th anniversary…
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