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[April 2002]
Better Minerals & Aggregates Co Reports Increased Sales and Earnings for 2001
Better Minerals & Aggregates Company (BMAC) - the parent company of US Silica - has reported increased revenue and pre-tax earnings for the fiscal year ended 31 December 2001. Revenue was US$307.9 million, a 2.9% increase from the 2000 revenue of US$299.3 million. Year-end EBITDA rose 8.5% to US$55.9 million from US$51.5 million in 2000. Net loss for 2001 decreased to US$4 million from 2000's reported net loss of US$9.5 million."All in all, 2001 was a real challenge for the business, and I'm pleased with the way we've reacted," said R.D. Butch Reeves, BMAC's Chief Executive Officer. "Our industrial minerals volume was down most of the year, as was volume in all domestic manufacturing businesses. However, as a result of ongoing cost controls and a good aggregates season in 2001, we've been able to achieve improved earnings in the last two quarters. In addition, the new BMAC organization structure we implemented early in 2001 is working well and I expect to continue to see continued improvements in operations efficiency in 2002."
BMAC is a leading producer of high quality silica sand and aplite for the glass, foundry, chemical, recreational and construction industries; fine ground silica and kaolin clay products for the paint, plastic and ceramic industries; crushed stone to contractors and road builders and ready-mix concrete and bituminous asphalt plants; and bituminous paving materials to contractors and road builders.
Headquartered in Berkeley Springs, WV, USA, the company has approximately 1,050 employees at its 27 facilities in the USA.
ENDS