Unimin merges with Ohio company
A merger of Unimin Corporation and Ohio-based Fairmount Santrol, a provider of high-performance sand and sand-based product solutions used by oil and gas exploration and production companies to enhance productivity, is expected to be complete by mid-2018.
Unimin’s high-purity quartz business in Spruce Pine, which mainly serves electronics manufacturers in Asia, does not form part of the merger and instead will become a separate entity owned by Unimin’s parent company, Sibelco, according to a press release.
“This is a compelling transaction for our shareholders and for our many other stakeholders, including our customers, employees and communities,” said Jenniffer Deckard, president and CEO of Fairmount Santrol. “By combining the complementary strengths of both Unimin and Fairmount Santrol, we will create a premier provider of industrial materials and proppant solutions with benefits and growth opportunities that far surpass what either company could achieve alone. Together we will serve our customers more efficiently and effectively with a broader and more diverse product offering, greater technical expertise, improved scale and geographic diversity and an expanded logistics platform. We have long respected the Unimin organization and believe our shared cultures of sustainability and long-term value creation will enable us to realize the benefits of this merger.”
The combined entity will be the largest provider of proppant solutions to the energy industry and of industrial materials solutions, will possess the most extensive technical and applications expertise, and will have the largest portfolio of high-purity sands and nepheline syenite production in North America.
The executive leadership team will include a combination of existing leaders from both Unimin and Fairmount, with the combined company leaning on the significant strengths of the quality workforce across both companies.
The location of the combined entity’s headquarters will be determined prior to closing, and the combined company will maintain regional offices to leverage both companies’ significant operating presence, partnerships and employee bases.
Unimin operates 38 sand, mineral and coating processing facilities in the United States, Canada and Mexico that serve a variety of energy and industrial customers.