Covia Is Beginning To Divide And Conquer The Frac Sand Industry [Seeking Alpha]
COVIA HOLDINGS CORP (CVIA)
Last covia holdings corp earnings: 3/10 06:00 am
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Source: Seeking Alpha
Summary Who would have thought that the frac sand industry could become so fragmented in such a short period of time? While this has many investors on edge, the more the industry fragments into many smaller players, the more chances Covia ( CVIA ) has to bifuricate the North American frac sand market. The fact is, when many smaller miners enter into the equation, it exposes them to competition that much more, which threatens margins and market share. Covia has begun the bifurcation process by not only consolidating two power houses into one (when Fairmount Santrol merged with Unimin), but now by idling some of their highest costing Northern White mines. This move is almost cutthroat in nature, because it places pressure on smaller Northern White competitors who are higher on the cost curve. The same will then happen to smaller, local brown sand miners in the south who, over time, won’t be able to compete with the size and scale of Covia. Since Covia is beginning to divide
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