U.S. Silica says reviewing options for unit, shares jump

US Silica Holdings

07/10/2021 15:01

** Frac sand miner's  SLCA.K  shares up 8.8% at $9.23 after
co says it was looking at strategic alternatives for its
Industrials & Specialty Products (ISP) segment  urn:newsml:reuters.com:*:nPnbbFvdza
    ** Options include potential sale or separation of the unit
    ** "The business is well aligned with global sustainability
initiatives, is positioned to benefit from increased U.S.
infrastructure investment and has exposure to environmentally
important value chains, including solar panels, wind turbines
and green diesel" - CEO Bryan Shinn
    ** Says ISP is set to expand profitability substantially
over the next 3-5 years
    ** Says no specific timeline for completion of review
    ** Stock up 31.6% YTD 

 (Reporting by Sruthi Shankar)
 ((sruthi.shankar@thomsonreuters.com;))