U.S. Silica Announces Price Increases on Industrial and Specialty Products
U.S. Silica Holdings, Inc. (NYSE: SLCA) has announced a price increase of up to 25% on most of its non-contracted diatomaceous earth, perlite, and cellulose products, effective from May 15, 2022. This decision is attributed to rising inflationary pressures in raw materials, packaging, labor, logistics, and maintenance costs. These products are primarily used in food and beverage filtration, renewable diesel, catalysts, paints, coatings, plastics, and industrial oil.
- Price increases may improve revenue margins amid rising operational costs.
- Inflationary pressures may indicate broader economic challenges affecting profitability.
KATY, Texas, April 19, 2022 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) said today that part of its Industrial and Specialty Products business will increase prices for most of its non-contracted diatomaceous earth, perlite and cellulose products used primarily in food and beverage filtration, renewable diesel, catalysts, paints and coatings, plastics and industrial oil.
Price increases will range up to 25 percent, depending on the product and grade. The price increases are effective for shipments starting May 15, 2022.
This increase is driven by ongoing inflationary pressures around raw materials, packaging, labor, logistics and maintenance expenses.
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 122-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 currently operates 24 mines and production facilities and is headquartered in Katy, Texas.
Investor Contact
Patricia Gil
Vice President, Investor Relations
281-505-6011
gil@ussilica.com
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SOURCE U.S. Silica Holdings, Inc.
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