U.S. Silica Holdings Inc. (NYS:SLCA) 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 (S&P:SPX) has gained 24%.
Nov. 30, 2021, 7:11 a.m. EST