Fairmount Santrol - 500 Beiträge pro Seite

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FAIRMOUNT SANTROL COMMENTS ON STRENGTH OF FOURTH-QUARTER 2014 VOLUMES AND REAFFIRMS FULL-YEAR GUIDANCE; ANNOUNCES TIMING OF FOURTH-QUARTER AND FULL-YEAR 2014 EARNINGS RELEASE AND CONFERENCE CALL

02/10/2015
CHESTERLAND, Ohio, Feb. 10, 2015 (GLOBE NEWSWIRE) -- Fairmount Santrol (NYSE:FMSA) today announced fourth-quarter and full-year 2014 sales volumes. The company expects to report a strong fourth quarter driven by total sales volumes of approximately 2.5 million tons, an increase of 15% compared with the prior-year period. Overall, fourth-quarter raw sand volumes were 2.1 million tons, and value-added coated product volumes were 0.4 million tons, up 11% and 41%, respectively, over the prior-year period.

The reported volume growth was driven by continued proppant demand across all basins. Compared with the prior-year period, fourth-quarter volumes were favorably impacted by increased unit train shipments, faster throughput at the company's in-basin terminals, and improved rail service, all of which led to improved delivery efficiencies for our customers.

For the full year of 2014, total sales volumes were approximately 9.6 million tons, an increase of 27% compared with 2013. Overall 2014 raw sand volumes were 8.1 million tons, and coated volumes were 1.5 million tons, up 25% and 43%, respectively, over the prior year.

In late March, following the completion of its first year-end audit as a public company, Fairmount Santrol will provide full earnings results for the fourth quarter and full-year 2014. The company expects to report Adjusted EBITDA at or above its previously announced guidance range of $390 million to $395 million for the full year.

"Fairmount Santrol achieved many milestones during 2014, including shipping record volumes, expanding and enhancing our industry-leading logistics capabilities, reaching key environmental and community targets, and executing our initial public offering," said Jenniffer Deckard, president and chief executive officer. "We are proud of our accomplishments and thankful for the hard work and commitment of every member of our organization."

Regarding the outlook for the coming year, Deckard said, "While we expect uncertain oil and natural gas prices to lead to challenging market conditions throughout 2015, we remain confident in the fundamentals of our business. We are maintaining a close dialogue with our customers, many of whom we have served for over 30 years, to understand short-term market trends and longer-term opportunities. We will continue to strengthen our partnerships and help our customers succeed. Our market strength, product quality, unique technologies and industry-leading logistics network will continue to position Fairmount Santrol to capitalize as the market rebounds."

Earnings Release and Conference Call Details

The company plans to release more detailed information about its fourth-quarter and full-year 2014 financial performance, as well as the market outlook for 2015, before the New York Stock Exchange opens on Monday, March 23, 2015. A conference call for investors will be held on that day at 10 a.m. Eastern Time. The call will be hosted by Jenniffer Deckard, president and chief executive officer, and Christopher Nagel, chief financial officer.

Investors are invited to listen to a live audio webcast of the conference call by visiting the Investor Relations section of the company's website at FairmountSantrol.com. The webcast will be archived on the website following the call. The call can also be accessed live by dialing [phone] or, for international callers, [phone]. The passcode for the call is 80225991. A replay will be available shortly after the call and can be accessed by dialing [phone] or [phone]. The passcode for the replay is 80225991. The replay of the call will be available through March 30, 2015.

About Fairmount Santrol

Fairmount Santrol is a leading provider of high-performance sand and sand-based products used by oil and gas exploration and production companies to enhance the productivity of their wells. The company also provides high-quality products, strong technical leadership and applications knowledge to end users in the foundry, building products, water filtration, glass, and sports and recreation markets. Its global logistics capabilities include a wide-ranging network of distribution terminals and thousands of rail cars that allow the company to effectively serve customers wherever they operate. As one of the nation's longest continuously operating mining organizations, Fairmount Santrol has developed a strong commitment to sustainable development, environmental stewardship, and operational safety. Correspondingly, the company's motto and action orientation is: "Do Good. Do Well." For more information, visit FairmountSantrol.com

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http://seekingalpha.com/article/2937296-another-undervalued-…

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schöner Übersichtsartikel zu Frac-Sand

http://seekingalpha.com/article/2701885-fairmount-santrol-a-…

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habe mir trotz der heftigen Verschuldung zur Ergänzung der peergroup mal ein paar Stücke zugelegt

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Frac Sand Companies Are Spending Millions On Excess Rail Cars

http://oilpro.com/post/23049/frac-sand-companies-spending-mi…

This morning, Fairmount Santrol, a leading frac sand provider, told investors it spent $9 million during the fourth quarter on excess rail cars sitting in storage. That's up from $6.7 million spent during the third quarter.

The company now has 4,600 rail cars in storage, a number it believes is the peak for the downturn. The company has begun taking cars out of storage in early-2016, reducing the number of cars in storage by approximately 1,000.

Several weeks ago, US Silica Holdings, another large shale frac sand provider, said 40% of its 7,000 railcar fleet is idled. "We are experiencing somewhere in the neighborhood of $5 million a quarter of what I call lazy assets. Those are cars that are in storage today that are not producing for us," Donald Merril, US Silica CFO said several weeks ago.

With the industry wide volume of frac sand sold in North America falling about 23% in 2015 vs. 2014 levels, the recent shortage of rail cars has quickly transitioned to a glut. Frac sand companies that lease these cars are paying for them to sit idle and incurring storage costs too.

Fairmount estimates that about 40% of the capacity in the frac sand industry has been either idled or reduced (about half and half). So, the company estimates about 20 million tons of capacity have been idled and close to 20 million tons of capacity are operating in reduced activity levels.

Fairmount has also reacted by consolidating sand mining operations into a lower cost footprint, including the closure or idling or eight facilities, taking approximately 3.4 million tons of total sand capacity off-line.

In 2016, the increased use of proppant per well should continue to partially offset the impact of fewer wells being drilled. Fairmount expects Double-digit growth in proppant per stage and stages per foot to drive an increase in proppant intensity of 20%+ in 2016.

A few more interesting observations from today's Fairmount call:

Pricing declines slowed during the fourth quarter with an average decline in selling prices of 5% across all proppant solutions product lines excluding any change in mix or distribution channels.
For the full year 2015, Fairmount's frac sand volumes were down 5% over 2014 levels, as compared with an estimated market decline of 23%. Coated product volumes were down approximately 50% in line with market decline.
Throughout 2015, Fairmount was able to grow its share in the overall proppant market due, in large part, to its ability to provide value through multiple delivery channels. This includes delivering sand into basins more cost effectively and enabling customers to further reduce their own less mild cost to Fairmount's broad in-basin network.

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bin sogar im Plus!?

keine Ahnung, warum die Verknüpfung mit der WKN nicht klappt...

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ein Jahr (grob) seitwärts

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heute kam die Ausbuchung meines Erinnerungsstücks

das hier ist der Grund:

FAIRMOUNT SANTROL AND UNIMIN TO MERGE, CREATING A LEADER IN PROPPANT AND INDUSTRIAL MATERIALS SOLUTIONS
12/12/2017

Combination launches a leader in serving the industrial and energy industries with an estimated 45 million tons of annual processing capacity

A uniquely diversified business across end-markets and geographies, supported by high-quality assets, complementary products and industry-leading distribution networks

Significant value creation supported by a large, resilient industrial business and leading proppant business

Substantial earnings accretion from $150 million in targeted annual synergies, with 50% achievable in the first year after close

Current Fairmount shareholders to receive $170 million in cash and 35% ownership in the combined company


CHESTERLAND, Ohio and NEW CANAAN, Conn., Dec. 12, 2017 (GLOBE NEWSWIRE) --

Fairmount Santrol (NYSE:FMSA) (“Fairmount”) and Unimin Corporation (“Unimin”), a wholly owned subsidiary of SCR-Sibelco NV (“Sibelco”), today announced that the Boards of Directors of both companies have approved a definitive agreement under which Fairmount and Unimin will combine in a tax-free, cash and stock transaction.

The new company, which will list on the New York Stock Exchange, will combine the two organizations’ strong product portfolios and asset footprints to create an industry-leading proppant and industrial materials solutions provider, serving both energy and industrial customers. The combined company is expected to have 45 million tons of annual sand and mineral processing capacity and 3.0 million tons of annual coating capacity. In addition, the combined company will operate a comprehensive logistics platform with a large-scale terminal network across North America, comprising 96 distribution terminals with 18 unit-train capable terminals, and access to all major railways serving major oil and gas basins.

On a pro forma basis, the new company would have had revenue of approximately $2.0 billion and Adjusted EBITDA of approximately $400 million, excluding expected synergies, for the 12 month period ended September 30, 2017. The industrial segment represents 45% of gross profit and the proppants segment represents 55%.

The transaction is expected to generate significant shareholder value, including a $170 million cash payment to Fairmount shareholders. In addition, it is expected to strengthen the companies’ leadership positions in serving both the industrial and energy markets through a broader, more diverse product offering and logistics footprint. The combined company is targeting $150 million of identified annual operational synergies, resulting in over $1 billion in value creation.

“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 Chief Executive Officer 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.”

Campbell Jones, President and Chief Executive Officer of Unimin, said, “We are excited to join forces with Fairmount as we believe this combination is an ideal fit for our value-driven orientation and long-term vision of strength through diversity of products and end markets. Fairmount is an excellent partner for Unimin and shares our strategy of providing superior and innovative product solutions for the growing energy and industrial segments. Together, our combined network of flagship plants, terminals and rail access will deliver greater capacity and more cost-competitive supply to meet our customers’ needs.”

Matthew LeBaron, Chairman of the Fairmount Santrol Board of Directors, said, “We are pleased with this combination, which brings together two industry leaders at an opportune time in the industry. This transaction will deliver significant value for Fairmount shareholders through immediate cash consideration and the opportunity to participate in the upside of the combined company. The combined company will have a strong capital structure, backed by diverse cash flow streams, which will position it to make strategic growth investments and further enhance returns for shareholders. On behalf of my fellow directors, we look forward to what Fairmount and Unimin will accomplish together.”

“This combination is a unique opportunity to create an industry-leading company with the ability to generate significant long-term value for shareholders,” said Jean-Luc Deleersnyder, Chief Executive Officer of Sibelco. Mr. Deleersnyder continued, “We are confident that the combined company will be in a strong position to leverage its strengths to generate significant cash flow that can be used to capture targeted growth opportunities and to reduce debt. Our position as a long-term investor reflects our belief in the value that will be created by the merger and enables the consolidated entity to leverage our global capabilities.”


Strategic and Financial Position of the Combined Company

Leading materials solutions provider to both the energy and industrial segments: The combined company will be a leading industrial materials and proppant solutions provider with improved scale, approximately 45 million tons of annual sand and mineral production capacity, and more than 1.3 billion tons of combined reserves. 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.

Diversification across assets, geographies and end markets: The combined company’s complementary asset footprint is well positioned to serve resilient and attractive markets including oil & gas, glass, construction, ceramics, coatings, polymers and foundry markets. Through both strategically located plants and an enhanced distribution network with access to all major rail lines, the combined company will have an exceptional position to deliver products and services to a broad customer base across energy and industrial markets.

Significant value creation through operational synergies and greater access to diverse and growing industrial business: The combined company expects to further enhance earnings and value through substantial operational synergies, targeting $150 million in annual synergies, and capturing 50% of the synergies in the first year following close. The new company’s significant and more predictable cash flow generation is a benefit of more diverse revenue streams from the industrial segment strengthened by combinational synergies, increased scale and complementarity of assets. These synergies and improved cash flows will provide the combined company with increased financial flexibility, including the ability to reduce leverage and make strategic investments.


Key Transaction Terms and Details

Under the terms of the merger agreement, at the closing of the transaction, Fairmount shareholders, including equity award holders, will receive $170 million in cash, or approximately $0.74 per share based on Fairmount’s current diluted share count, and will own 35% of the combined company, with Sibelco owning the remaining 65%. The transaction is structured to be tax-free to Fairmount shareholders. Sibelco will maintain ownership of Unimin’s high-purity quartz business, which mainly serves electronics manufacturers in Asia.

In connection with the transaction, Unimin has secured fully committed financing from Barclays Bank PLC and BNP Paribas to refinance both companies’ outstanding debt obligations and certain transaction expenses. The companies believe that the strong and diversified cash flow resulting from the combination will allow the combined company to pay down debt expeditiously.

Concurrent with closing, the combined company intends to list its shares on the New York Stock Exchange, while Fairmount will be delisted from the New York Stock Exchange.


Governance, Leadership and Headquarters

Upon closing, the combined company’s Board of Directors is expected to comprise 11 members, six of whom will be recommended by Sibelco, including Jean Luc Deleersnyder, Sibelco’s Chief Executive Officer, and four of whom will be recommended by Fairmount. Jenniffer Deckard, current Chief Executive Officer of Fairmount Santrol, is expected to serve as CEO and as a director of the combined company. Sibelco has the right to nominate the independent Chairman of the combined company.

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 in order to leverage both companies’ significant operating presence, strong partnerships and talented employee bases. Unimin and Fairmount have highly recognizable and well respected names, and the name of the combined company will be determined before the closing of the transaction.


Approvals

The transaction is expected to close in mid-2018, subject to the approval of Fairmount shareholders, the receipt of regulatory approvals and the satisfaction of other customary closing conditions.

Fairmount Santrol has entered into a voting agreement with certain holders of 26 percent of Fairmount’s outstanding common stock, pursuant to which they will vote their shares in favor of the transaction.

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Friedhof der Übernommenen