U.S. Silica Announces Price Increases on Industrial and Specialty Products

Rhea-AI Summary

U.S. Silica Holdings, Inc. will increase prices for its non-contracted silica, aplite, diatomaceous earth, clay, perlite, and cellulose products. Price increases will range up to 20% and will go into effect on January 1, 2024. The company cites rising labor, transportation, materials, and manufacturing costs as the reason for the price hikes.

KATY, Texas, Nov. 1, 2023 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) announced today that its Industrial and Specialty Products segment will increase prices for most of its non-contracted silica, aplite, diatomaceous earth, clay, perlite, and cellulose products used primarily in glass, filtration, foundry, paints, coatings, elastomers, roofing, chemicals, recreation, building products, renewable diesel, industrial oil, and other applications.

Price increases will range up to 20% depending on the product and grade and go into effect for shipments beginning January 1, 2024. 

These price increases are necessary to help offset significant and continuing cost increases in labor, transportation, materials, and manufacturing costs.

About U.S. Silica

U.S. Silica Holdings, Inc. is a global 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. Over its 123-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 600 diversified products to customers across our end markets.  

U.S. Silica's wholly-owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company has 27 operating mines and processing facilities and two additional exploration stage properties across the United States and is headquartered in Katy, Texas.

U.S. Silica Holdings, Inc. 

Investor Contact
Patricia Gil
Vice President, Investor Relations & Sustainability
281-505-6011
gil@ussilica.com 

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SOURCE U.S. Silica Holdings, Inc.

FAQ

What is the name of the company mentioned in the press release?

The company mentioned in the press release is U.S. Silica Holdings, Inc.

What products will experience price increases?

The price increases will affect non-contracted silica, aplite, diatomaceous earth, clay, perlite, and cellulose products.

When will the price increases go into effect?

The price increases will go into effect on January 1, 2024.

Why is the company raising prices?

The company is raising prices to offset significant and continuing cost increases in labor, transportation, materials, and manufacturing costs.