Fairmount Minerals to acquire sand mining operations, resin-coating plants, transload terminals
BY MELANIE CRUTHIRDS, News Editor
CHESTERLAND, Ohio -- Fairmount Minerals has signed a purchase agreement with FTS International (FTSI) to acquire nearly all of FTSI's sand mining operations, resin-coating plants and distribution terminals. The transaction significantly increases the operational and logistical capabilities of Santrol, a Fairmount Minerals company. The infrastructure expansion will allow oil and gas customers to source proppant closer to the wellsite.
This purchase includes Northern White operations, adding to Fairmount’s portfolio of Northern White mines in Illinois, Minnesota and Wisconsin, and Hickory sand reserves. The acquired assets will increase the number of Fairmount sand processing and resin-coating facilities.
Santrol's distribution network will now include more than 50 proppant distribution terminals.
The transaction closing date is scheduled for the end of the third quarter.