U.S. Silica Board Decides to Retain Industrial and Specialty Products Business Segment

U.S. Silica Holdings Inc of Katy, TX has announced the completion of a review of strategic alternatives for its Industrial & Specialty Products (ISP) segment announced last fall. The company’s Board considered considered a range of options with a goal to maximize shareholder value. As part of the review, the company contacted and engaged with both strategic industry parties, as well as private equity investors. After extensive evaluation and deliberation, the board unanimously determined that retaining ownership of the ISP segment represented the best path forward.

Charles Shaver, U.S. Silica’s Chairman, commented, “After an independent and exhaustive review of strategic alternatives, the Board believes continuing to operate the ISP segment and pursuing the company’s business plan is the best path forward to maximize value for all shareholders. The Board is confident in the company’s long-term strategy, growth prospects and ability to generate cash, and will continue to be open to additional opportunities to maximize shareholder value.”

Bryan Shinn, U.S. Silica’s CEO, said, “Since announcing the strategic review, the macro environment has improved dramatically. North America experienced a substantial rebound in energy prices and demand for our products and services has grown, fueling increased profitability, cash generation and a more robust overall financial profile. We continue to see strength across both business segments and remain focused on the execution of our strategy to drive growth and generate substantial cash flow while creating shareholder value.”

Volume 36, Issue 11

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