AMCOL International is nothing if not diverse, with operations in minerals, environmental services, oilfield services, and transportation. Its minerals segment is a global supplier of bentonite products used in cat litter, laundry detergent, metal casting, paper manufacturing, and as a plastic additive. Its environmental segment provides building materials and construction services to concrete waterproofing, drilling, flood control, and site remediation projects. AMCOL's oilfield services unit offers water treatment and well testing to the oil and gas industry. The company's transportation business provides long-haul trucking and freight brokerage services to AMCOL units and third parties in the US and Canada.
The Americas account for the majority of the company's sales. AMCOL also operates in Asia, Australia, Europe, and Africa. The company's Minerals unit accounts for half of AMCOL's business, while its Environmental unit is 27%, Oilfield Services is 18%, and Transportation is 6%.
AMCOL's strategy is focused on long-term profit growth through the development and application of minerals and technology products and services to industrial and consumer markets. The majority of its revenue growth is achieved by sustaining its products' technological advantages, developing new products and applying them in innovative ways, and bringing additional products and services to current markets. The company routinely seeks to acquire compatible businesses, when appropriate, if they are a good value and fit into its growth strategy.
The company's revenues rebounded in 2010, growing 21% over the previous year on the strength of growth in the minerals segment. Oilfield service also showed a significant increase in sales. Geographically, sales expanded significantly in the Asia/Pacific region while contracting in EMEA and the Americas. Net income fell 13% in 2010 due to higher income taxes and losses from affiliates and joint ventures.
In 2009 the company acquired a South African chromite mine. The purchase gives AMCOL the opportunity to further build its position as a supplier of chrome sand to the metal casting industry.
Ryan F. McKendrick was named president and CEO of AMCOL in 2011. He replaced Lawrence Washow, who retired after 32 years with the company. McKendrick was formerly the company's CFO.
The founding Weaver family holds a significant minority stake in AMCOL. – less