FREDERICK, Md., July 31, 2014 /PRNewswire/ -- U.S. Silica
Holdings, Inc. (NYSE: SLCA) announced today that it has completed
the acquisition of Cadre Services Inc., a leading regional sand
mining company based in Voca,
Texas. The addition of Cadre's outstanding operational and
logistics capabilities allows U.S. Silica to expand its geographic
footprint and product offerings in the fast-growing Permian Basin.
The purchase price was $98
million.
"The successful acquisition of Cadre presents new opportunities
for U.S. Silica and supports our strategy to bring on additional
capacity to serve the growing demand for raw sand proppants," said
Bryan Shinn, president and chief
executive officer. "Specifically, it allows us to provide our
customers with high-quality, regionally produced products that
effectively meet the demands of many of the Permian oil and gas
wells," he added. Cadre's business has been renamed Cadre, a U.S.
Silica Company.
About U.S. Silica
U.S. Silica Holdings, Inc., a member of the Russell 2000, is one
of the largest domestic producers of commercial silica, a
specialized mineral that is a critical input into the oil and gas
proppants end market. The company also processes ground and
unground silica sand for a variety of industrial and specialty
products end markets such as glass, fiberglass, foundry molds,
municipal filtration and recreational uses. During its 100-plus
year history, U.S. Silica Holdings, Inc. has developed core
competencies in mining, processing, logistics and materials science
that enable it to produce and cost-effectively deliver over 250
products to customers across these end markets. U.S. Silica
Holdings, Inc. is headquartered in Frederick, Md.
Media Inquiries: Alison
Holder
Manager of Corporate Communications
301-682-0326
holder@ussilica.com
Investor Relations Inquiries: Mike
Lawson
Director of Investor Relations and Corporate Communications
301-682-0304
lawsonm@ussilica.com
SOURCE U.S. Silica Holdings, Inc.