Fairmount Acquires Proppant Business
- Published: Wednesday, 16 October 2013 16:03
Fairmount Minerals 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, Texas, industrial sand processing operations in Oakdale and Readfield, Wis., and resin-coating operations in Cutler, Ill., and Voca, Texas, 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.