Welcome to our dedicated page for CVIA news (Ticker: CVIA), a resource for investors and traders seeking the latest updates and insights on CVIA stock.
Covia Holdings Corp (CVIA) delivers mineral solutions for energy and industrial markets through its specialized Energy and Industrial segments. This page provides authorized updates on corporate developments, financial performance, and operational milestones.
Investors and industry professionals will find a comprehensive repository of press releases covering earnings announcements, product innovations, strategic partnerships, and market expansions. Our curation focuses on verified updates about CVIA's dual offerings: energy sector materials like frac sand/proppants, and industrial solutions for construction, glass, and metals manufacturing.
Key updates include operational advancements in raw material processing, custom-blended product launches, and sustainability initiatives across both business segments. Bookmark this page for direct access to primary source materials that impact CVIA's position in the mineral solutions sector.
Covia, a leading industrial materials company, has implemented robust Occupational Health and Industrial Hygiene programs to protect employee health. The company follows the NIOSH Hierarchy of Controls, which has helped lower its all-incidence rate since 2021. This five-step process includes eliminating hazards, substituting materials, using engineering controls, implementing administrative controls, and utilizing personal protective equipment (PPE).
Additionally, Covia employs the MSHA SLAM risk management process, requiring plant and operations managers to conduct regular quality control assessments. In 2023, the company achieved its goal of five in-field SLAM evaluations per month per manager. These initiatives demonstrate Covia's commitment to safety, health, and security, which extends beyond its own organization.
Covia has revitalized its internship program, offering students across the country a chance to learn from expert mentors in various disciplines. The 10-week program includes educational courses, weekly discussions, networking opportunities, and a capstone project. In 2024, Covia welcomed 10 college students from top mining, business, and engineering programs. The program features Thank Goodness It's Internship Friday (TGIIF) events, allowing interns to connect with Covia experts.
Two intern spotlights were highlighted: Victoria Oginski, a Chemical and Biomolecular Engineering student, worked on optimizing grinding aid and waste reduction at the Fort Smith plant. Cayleigh Ana Kruse, a Business Administration student, contributed to naming Covia's new hobby-ware ceramic line. The program aims to educate, empower, and provide real-world experience to the next generation of mining and mineral industry professionals.
Covia, a leading mining company, is testing innovative safety technologies to enhance worker safety and efficiency. The company has partnered with a fatigue intelligence provider to predict the effects of sleep disruption on team members' reaction time and cognitive effectiveness. This technology helps identify high-risk moments during shifts, allowing for strategic task planning.
Additionally, Covia is collaborating with the National Institute for Occupational Safety and Health (NIOSH) to evaluate passive exoskeleton technology in the mining industry. A successful pilot test was conducted at their Elco, Illinois plant, with plans for extended trials. The exoskeleton aims to reduce strain on workers performing manual tasks, potentially improving safety and efficiency in mining operations.
Covia, a company committed to safety and health, has reported progress on its safety initiatives aligned with UN Sustainable Development Goal 3. Key achievements in 2023 include:
1. A decrease in the all-incidence rate to 0.95, showing annual improvement since 2021.
2. A 36% reduction in job positions potentially overexposed to respirable silica since 2022.
These improvements were driven by strategic initiatives, investments in training, and strengthening of Safety and Health teams. Covia's comprehensive approach is outlined in its Safety and Health Management System (SHMS), which includes policy statements, legal information, rules, procedures, and training requirements. The company's efforts are supported by various policies and programs, including the Safety and Health Manual and Code of Business Conduct and Ethics.
Covia's Black Lab Chardon plant, specializing in custom toll blending services, has demonstrated exceptional performance and team-driven success. The facility, with 15 dedicated team members, provides high-quality mineral solutions for various industries including bridge infrastructure and corrosion prevention. Key highlights include:
1. A strong safety record of over two years without a lost-time incident
2. Best year on record in terms of productivity and efficiency
3. Focus on sustainability and environmental protection
4. Active community involvement and partnerships
The plant's success is attributed to its tight-knit team, effective communication, and a culture prioritizing safety. The facility continuously implements improvements to streamline operations and promote sustainability, benefiting both customers and the local community.
Covia has announced the recipients of its Aspire Scholarship for 2024, aimed at supporting the higher education goals of employees' dependents. In collaboration with CollegeNow and the Cleveland Foundation, five students have been selected to receive financial aid for their fall semester tuition. The scholarship program, established in 2013, has granted nearly 30 scholarships to date.
The 2024 awardees are Maxwell Etienne, Gracie Cappelle, Savannah Moore, Gracen Pitts, and Noah Foster. Brian Richardson, EVP and Chief Administrative Officer, emphasized Covia's commitment to supporting youth education. This initiative aligns with Covia's social responsibility efforts and contributes to developing future talent for their workforce.
Covia has conducted a comprehensive Task Force on Climate-Related Financial Disclosures (TCFD) scenario analysis to assess climate-related risks and opportunities. The analysis covers various warming scenarios from 1.5°C to 4.7°C, evaluating both physical and transitional risks. Key highlights include:
1. In-depth risk assessment across multiple climate scenarios
2. Strategic adaptation of operations and supply chain management
3. Enhanced disclosure through the TCFD framework
4. Integration of climate considerations into strategic planning
This approach aligns with Covia's commitments to resilience and innovation, strengthening its ability to respond to climate-related challenges. The company has also released its 2023 ESG Report and published SASB and GRI disclosure reports, demonstrating its dedication to transparent reporting and stakeholder engagement.
Kurt Krebs, Plant Manager at Covia's Black Lab Chardon plant, shares his journey from bagger to leadership. Starting in 2010, Kurt worked his way up, becoming plant manager in 2016. The Black Lab Chardon plant specializes in custom toll blending for various industries, managing over 800 raw ingredients and eight bag sizes.
The team's dedication led to record production numbers last year, despite having fewer members. Kurt emphasizes the plant's community of respect and care, with a strong focus on safety both at work and in personal life. The Black Lab Chardon plant has seen continuous growth for the past decade, and Kurt looks forward to further expansion and new opportunities.
On July 11, 2024, Covia announced its commitment to Responsible Operations, a new material topic derived from their 2023 materiality assessment. This initiative emphasizes minimizing environmental impacts, enhancing community relationships, and proactively addressing operational challenges. Covia has integrated this commitment into its strategic decision-making and daily operations, involving collaboration with team members, stakeholders, and local leaders. Key efforts at facilities include Tunnel City’s reliance on rail transport to reduce emissions and noise, NSO's noise prevention measures, and Chardon’s dust management practices. Overall, Covia aims to continuously improve its environmental and social responsibilities.
Covia has announced significant progress in their Environmental, Social, and Governance (ESG) goals for 2023, setting a strong foundation for their 2030 targets. The company focuses on Environmental Stewardship by ensuring responsible operations, protecting water supplies, reducing greenhouse gas emissions, and preserving biodiversity. Additionally, Covia emphasizes Positive Social Impact by ensuring the safety and health of team members, fostering an inclusive culture, supporting communities, and expanding sustainable product offerings. In the area of Responsible Governance and Ethics, the company aims to strengthen security and data privacy and increase corporate transparency. These initiatives reflect Covia's commitment to corporate responsibility and sustainability. For more detailed information, visit their profile on 3blmedia.com or contact them via email.
