KATY, Texas, Jan. 7, 2019 /PRNewswire/ -- U.S. Silica
Holdings, Inc. (NYSE: SLCA) said today that is has purchased a
former ceramic proppant facility in Millen, GA that will be converted into
manufacturing high-end products for the Company's Industrial and
Specialties Products (ISP) business.
"The acquisition of the Millen
facility will enable us to expand our capacity to meet growing
customer demand for some of ISP's most successful and most
profitable new products,'' said Bryan
Shinn, president and chief executive officer. "Adding this
new capability will accelerate new product launches, improve
product quality and facilitate important product customizations
required by our industrial customers," he added.
The Company is in the initial stages of customer trials and
expects to begin full production at the plant in the second half of
this year.
U.S. Silica's Industrial and Specialty Products unit has a
robust pipeline of new, high-margin, high-performance products in
various stages of development. The Company anticipates that these
new products will continue to drive ISP's profitability, which has
increased at a 10% CAGR over the last five years.
Forward-looking Statements
Certain statements in this press release are "forward-looking
statements" made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and speak only as
of this date. Forward-looking statements made include any statement
that does not directly relate to any historical or current fact and
may include, but are not limited to, statements regarding U.S.
Silica's growth opportunities, strategy, future financial
results, forecasts, projections, plans and capital expenditures,
and the commercial silica industry. Forward-looking statements are
based on our current expectations and assumptions, which may not
prove to be accurate. These statements are not guarantees and are
subject to risks, uncertainties and changes in circumstances that
are difficult to predict. Many factors could cause actual results
to differ materially and adversely from these forward-looking
statements. Among these factors are: (1) fluctuations in demand for
commercial silica; (2) the cyclical nature of our customers'
businesses; (3) operating risks that are beyond our control; (4)
federal, state and local legislative and regulatory initiatives
relating to hydraulic fracturing; (5) our ability to integrate the
acquired business; (6) loss of, or reduction in, business from our
largest customers; (7) increasing costs or a lack of dependability
or availability of transportation services or infrastructure; (8)
our substantial indebtedness and pension obligations; (9) our
ability to attract and retain key personnel; (10) silica-related
health issues and corresponding litigation; (11) seasonal and
severe weather conditions; and (12) extensive and evolving
environmental, mining, health and safety, licensing, reclamation
and other regulation (and changes in their enforcement or
interpretation). Additional information concerning these and other
factors can be found in U.S. Silica's filings with
the Securities and Exchange Commission. We undertake no
obligation to publicly update or revise any forward-looking
statement as a result of new information, future events or
otherwise, except as otherwise required by law.
About U.S. Silica
U.S. Silica Holdings, Inc. is a performance materials
company and is a member of the Russell 2000. The Company is a
leading producer of commercial silica used in the oil and gas
industry, and in a wide range of industrial applications. Wholly
owned EP Minerals, a U.S. Silica Company, is an industry
leader in the production of products derived from diatomaceous
earth, perlite, engineered clays, and non-activated clays. Over its
119-year history, U.S. Silica has developed core
competencies in mining, processing, logistics and materials science
that enable it to produce and cost-effectively deliver over 1,500
diversified products to customers across our end markets. The
Company currently operates over 26 mines and production facilities.
The Company is headquartered in Katy, Texas and has offices in Frederick, Maryland and Chicago,
Illinois.
U.S. Silica Holdings, Inc.
Michael Lawson
Vice President of Investor Relations and Corporate
Communications
(301) 682-0304
lawsonm@ussilica.com
Nick Shaver
Investor Relations Manager
281-394-9630
shavern@ussilica.com
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SOURCE U.S. Silica Holdings, Inc.