Covia Announces Actions In Response To COVID-19 Pandemic And Disruptions In The Global Oil And Gas Markets

INDEPENDENCE, Ohio, April 14, 2020 (GLOBE NEWSWIRE) -- Covia (NYSE:CVIA), a leading provider of mineral-based material solutions for the Industrial and Energy markets, announced a series of actions taken recently to strengthen safety protocols, reduce capacity and lower costs. These actions have been taken in light of the challenges caused by the COVID-19 pandemic and recent dislocations in global oil markets. These actions include:

 

“The health and safety of our employees is a top priority, and I am proud of how quickly our organization reacted to continue safe operations in light of the impact of the COVID-19 pandemic,” said Richard Navarre, Chairman, President and Chief Executive Officer. “Unfortunately, the pandemic, combined with the collapse of oil prices, has had a negative impact on the markets we serve forcing us to take painful, but necessary steps, to adjust our operations to better align with market demand. These actions better position Covia to successfully navigate the current market without impacting our ability to meet the needs of our customers.”

 

About Covia

 

Covia is a leading provider of diversified mineral solutions to the oil and gas, glass, ceramics, coatings, metals, foundry, polymers, construction, water filtration, sports and recreation markets. The Company serves its Industrial customers through a broad array of high-quality products, including high-purity silica sand, nepheline syenite, feldspar, clay, kaolin, resin systems and coated materials, delivered through its comprehensive distribution network. Covia offers its Energy customers an unparalleled selection of proppant solutions, additives, and coated products to enhance well productivity and to address both surface and down-hole challenges in all well environments. Covia has built long-standing relationships with a broad customer base consisting of blue-chip customers. Underpinning these strengths is an unwavering commitment to safety and to sustainable development, further enhancing the value that Covia delivers to all of its stakeholders. For more information, visit CoviaCorp.com.