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[May 2002]
Slight Sales Dip for BMAC
Better Minerals & Chemicals Aggregates Company (BMAC) - parent company of US
Silica - reported total net sales (including shipping and handling fees) for
the first quarter of 2002 at US$56.1 million, down from sales of US$59
million in the first quarter of 2001. First quarter EDITDA totalled US$2.2
million compared to last year's results for the same period of US$3.5
million.First quarter sales of industrial minerals, BMAC's largest business, were
US$42.6 million, down 7.4% on Q1 2001. Excluding transportation charges,
product sales were US$35.4 million, a reduction of 5.4% from the Q1 2001
sales figure of US$37.4 million."Industrial minerals' sales were a bit softer than we expected, although we
did see an increased in demand in March that continued into April," said R D
'Butch' Reeves, BMAC President and CEO."..We are pleased that our aggregates' sales held relatively steady,
particularly since the first quarter of the year is traditionally soft in
this market. I do see indications that we will have a good construction
season this year, and I am optimistic about our prospects for this segment
in the months to come."Amongst other materials, BMAC is a leading supplier of high quality silica
sand and aplite, fine ground silica and kaolin clay products.
ENDS