U.S. Silica Holdings Inc. said Tuesday its industrial and specialty products business will raise prices on most of its non-contracted silica sand, aplite, diatomaceous earth and clay products used primarily in glass, foundry, paints, coatings, elastomers, roofing, chemicals, recreation, building products, agricultural, pet litter and other applications by 6% to 14% starting Feb. 1, 2022. “These price increases are necessary to help offset significant and continuing cost increases in energy, labor, transportation, materials and manufacturing costs,” the company said in a statement. Katy, Texas-based U.S. Silica is joining a host of companies raising prices to combat inflationary pressures. Shares were not yet active in premarket trade but have gained 42% in the year to date, while the S&P 500 has gained 24%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
