Unimin becomes Covia following merger

  

Glassmaking raw materials company Unimin is now known as Covia following a merger.

The combination of Unimin and sand miner Fairmount Santrol was completed last week.

Covia will be an industrial mineral company with about $2 billion in annual revenue.

Jenniffer Deckard, president and CEO of Covia, who had held the titles at Fairmount Santrol, said: “The strong foundation built by our two highly complementary legacy organisations underpins an industry leader, strongly positioned to serve customers' needs through our broad array of high-quality products, distinctive technical capabilities, and the industry's most comprehensive production and distribution network. 

“We look forward to utilizing these unique competitive advantages to achieve our near-term synergy goals and to create significant long-term value for all of our stakeholders."

As of June 1, 2018, Covia had 132.5 million fully diluted shares outstanding. Approximately 65% of Covia common stock is owned by SCR-Sibelco NV.


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