Prince Acquires the Assets of Millworx Materials, Inc.

Houston, May 1, 2015 – Prince Minerals LLC, a subsidiary of Prince International Corporation (“Prince”), announces the acquisition of the assets of Millworx Materials, Inc. (“Millworx”) of Decatur, Alabama.

Headquartered in Houston, Texas, Prince is an innovative, high-growth company with a longstanding tradition of providing high level customer and technical service to a variety of industries worldwide, including Steel, Foundry, Refractory, Glass, Construction, and Energy.
Millworx produces a range of refractory raw material solutions for the steel industry, including ladle and furnace sands. The combined businesses will provide a broader platform of products from different manufacturing locations with strengthened technical support.

“We believe the steel industry, particularly during this challenging period, will benefit from the strengths of the combined businesses with multiple shipping and production points and a stronger raw material procurement capability in terms of volumes and logistics,” said Willson Ropp, CEO. “Combining the Millworx and Prince businesses will expand our product range and R&D capabilities, which will allow the businesses to grow and keep up with customer requirements.”

Prince intends to retain all of the commercial and operational personnel of both businesses, with continued production from both the Decatur, Alabama and Wilmington, Delaware locations. “We fully expect that the combined businesses will provide the same high level of service and attention to detail that our customers have come to expect,” said Ropp.

Prince combines international sourcing and processing capabilities with in-depth customer knowledge, world-class engineering, and value-added distribution to deliver essential engineered solutions to diverse consumer and industrial markets. Formed through a series of acquisitions since 2003, Prince is a portfolio company of private equity funds affiliated with Palladium Equity Partners, LLC. Prince’s products enjoy widespread use in brick, glass, foundries, steel, oil & gas, specialty coatings, agriculture, water treatment, and numerous other industrial applications. Prince operates 19 processing facilities and 10 offices located across North America, South America, Europe, and Africa (please visit www.princecorp.com/steel for more information).