Fairmount Minerals Completes Transaction to Purchase FTS International's Sand Mining Operations, Resin-Coating Plants, and Transload Terminals
Acquired assets expand the footprint for Santrol, a Fairmount Minerals' company, enhancing proppant delivery efficiency throughout major US oil and gas plays
CHESTERLAND, Ohio, Sept. 6, 2013 /PRNewswire/ -- Fairmount Minerals announced today it has completed the acquisition of FTS International's (FTSI) proppant business, including certain sand mining plants, resin-coating plants, and distribution terminals.
With the addition of a mining operation in Voca, TX, industrial sand processing operations in Oakdale, WI, and Readfield, WI, and resin-coating operations in Cutler, IL, and Voca, TX, Fairmount Minerals is substantially expanding its existing operational capacities and the products offered through its Santrol business. The acquisition also increases Santrol's expansive distribution network to more than 50 terminals located strategically throughout the United States and Canada.
The expansion of both our operational and distribution network further strengthens Santrol's presence in the industry's conventional and unconventional oil and gas plays and enables Santrol to more effectively fulfill its customers' needs through the timely placement of proppants closer to the wellsite.
"We are pleased to expand our business through this substantial transaction with FTS International. This addition will broaden our product offerings and will further expand our extensive mining, manufacturing, and distribution infrastructure, enhancing our capability to efficiently deliver the highest-quality products to our valued customers," said Jenniffer Deckard, President and CEO of Fairmount Minerals. "We look forward to the FTSI employees joining the Fairmount Family and to the sharing of many best practices from both organizations."
Fairmount Minerals strives daily to exceed expectations in the areas of environmental stewardship and social responsibility. Toward that end, Fairmount has committed to provide more than $100,000 in initial community funding earmarked for the new communities in which it will now operate. Fairmount Minerals looks forward to supporting these communities by ongoing contributions of its involvement and investment.
About Fairmount Minerals
Fairmount Minerals is one of North America's largest producers of industrial sand and resin-coated products. The Chesterland, Ohio-based Company operates a global network of mining, mineral processing, manufacturing, and resin-coating facilities. Fairmount Minerals' specialized sands and coating technologies advance a vast array of industries and markets, such as construction, filtration, foundry, glass, sports turf, and oil and gas. The company's employees bring to life its motto of 'Do Good. Do Well.' by embracing daily a commitment to all three pillars of sustainable development: People, Planet, and Prosperity. For more information, please visit: FairmountMinerals.com.
Santrol, a Fairmount Minerals' Company, is a leading supplier to the oil and gas industry with dependable market-leading proppants, comprehensive research and development capabilities, and one of the industry's largest distribution networks of terminals and a private railcar fleet. When combined with Fairmount Minerals' integrated network of sand mining, manufacturing, and resin-coating facilities, this united company executes on its commitment to provide the right products at the right place at the right time. For more information, please visit: Santrol.com.
Director, Sustainability & Engagement
SOURCE Fairmount Minerals
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