|By PR Newswire||
|July 31, 2014 03:45 PM EDT||
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
Investor Relations Inquiries: Mike Lawson
Director of Investor Relations and Corporate Communications
SOURCE U.S. Silica Holdings, Inc.
Oct. 24, 2016 08:15 AM EDT Reads: 3,140
Oct. 24, 2016 08:00 AM EDT Reads: 830
Oct. 24, 2016 07:30 AM EDT Reads: 16,429
Oct. 24, 2016 07:30 AM EDT Reads: 2,545
Oct. 24, 2016 07:15 AM EDT Reads: 915
Oct. 24, 2016 05:45 AM EDT Reads: 11,375
Oct. 24, 2016 05:15 AM EDT Reads: 2,516
Oct. 24, 2016 05:00 AM EDT Reads: 3,096
Oct. 24, 2016 05:00 AM EDT Reads: 5,536
Oct. 24, 2016 05:00 AM EDT Reads: 2,499
Oct. 24, 2016 05:00 AM EDT Reads: 861
Oct. 24, 2016 04:45 AM EDT Reads: 3,327
Oct. 24, 2016 04:30 AM EDT Reads: 1,320
Oct. 24, 2016 04:30 AM EDT Reads: 2,504
Oct. 24, 2016 04:00 AM EDT Reads: 1,721