Covia Closes the Sale of the Winchester and Western Railroad for $105 Million
COVIA HOLDINGS CORP (CVIA)
Last covia holdings corp earnings: 3/10 06:00 am
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Source: GlobeNewswire
INDEPENDENCE, Ohio, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Covia (NYSE:CVIA), a leading provider of mineral-based and material solutions for the Industrial and Energy markets, announced that effective today, it has closed on the sale of the Winchester and Western Railroad to an affiliate of OmniTRAX, Inc. (“OmniTRAX”). Gross proceeds are $105 million in cash, subject to certain post-closing adjustments as set forth in the definitive agreement. As part of the transaction, OmniTRAX will assume ownership of approximately 470 railcars. About CoviaCovia is a leading provider of mineral-based material solutions for the Industrial and Energy markets, representing the legacy and combined strengths from the June 2018 merger of Unimin and Fairmount Santrol. The Company is a leading provider of diversified mineral solutions to the glass, ceramics, coatings, foundry, polymers, construction, water filtration, sports and recreation markets. The Company offers a broad array of high-quality products
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