HOUSTON, Oct. 25, 2018 /PRNewswire/ -- PicOnyx, Inc.
and Carbo Ceramics, Inc. [NYSE: CRR] plan to establish a strategic
partnership for the production of M-ToneTM, an
innovative family of unique, high performance black pigments.
M-ToneTM addresses customer needs for black
pigments with higher performance and greater functionality, that
are more environmentally friendly.
PicOnyx will receive assets and services from CARBO and CARBO
will become a strategic shareholder in the company. The
partnership provides PicOnyx with significant manufacturing
capacity, production capabilities and resources to support its
aggressive growth plans for M-ToneTM.
The manufacturing operation is expected to be operational in
early 2019 and will be capable of supporting PicOnyx's future
production needs for the next several years.
"This partnership is a significant milestone for PicOnyx and
provides a platform for delivering value to the market, our
customers and shareholders," said Dave
Bening, CEO of PicOnyx. "With a world class
manufacturing partner and consolidated supply chain, we can provide
customers with sustainable product economics, capacity for long
term supply and confidence in our ability to consistently deliver
high quality products. We look forward to working with Carbo
as our growth partner."
Gary Kolstad, CEO of CARBO
commented, "We are excited to be partnering with PicOnyx, which has
a truly innovative product platform. This partnership offers
several synergistic benefits for both companies and is another step
toward our goal of growing our industrial revenue streams. We look
forward to helping PicOnyx achieving their growth plan in the
months and years ahead."
The planned partnership is subject to the negotiation and
execution of definitive documentation, which is anticipated to
occur before the end of this year.
About PicOnyx, Inc. and M-ToneTM:
PicOnyx, Inc., headquartered in Houston TX, was formed in 2015 to
commercialize M-ToneTM, an innovative platform of
versatile, high performance, functional black pigments for the
Paints, Plastics, Inks, Coatings and Adhesives markets.
M-ToneTM delivers performance benefits to the user
beyond its deep black, highly opaque color.
M-ToneTM provides a versatile alternative to
incumbent pigments with unrivaled performance characteristics in
thermal, chemical and abrasion resistance, broad compatibility, and
economic processing. As a chemically inert ceramic material it is
unrivaled in its safety and environmental friendliness.
For more information, please visit www.piconyxinc.com
Investor Contact:
PicOnyx, Inc., Media Relations
(713) 652 9135
About CARBO:
CARBO (NYSE: CRR) is a global technology company that
provides products and services to the oil and gas and industrial
markets to enhance value for its clients.
CARBO Oilfield Technologies - is a global leader that
provides engineered solutions in its Design, Build, and Optimize
the Frac® technology businesses, delivering important value to
E&P operators by increasing well production and EUR.
Oilfield Technologies is the world's largest producer of high
quality ceramic proppant, provides one of the industry's most
widely used fracture simulation software, has proprietary
technology that provides fracture diagnostics and production
assurance, and offers consulting services for fracture design and
completion optimization. The Company also provides a range of
technology solutions for spill prevention and containment.
Its products and services are sold to operators of oil and
natural gas wells and to oilfield service companies for use in the
hydraulic fracturing of natural gas and oil wells.
CARBO Industrial Technologies - is a leading provider of
high-performance industrial ceramic media products that are
engineered to increase process efficiency, improve end-product
quality and reduce operating costs.
CARBO Environmental Technologies – is a leading provider
of spill prevention and containment solutions that provide the
highest level of protection for clients' assets and the environment
in oil and gas and industrial applications. Our range of innovative
products feature a proprietary polyurea coating technology that
creates a seamless, impermeable, maintenance-free layer of
protection.
For more information, please visit www.carboceramics.com.
Investor Contact:
Mark
Thomas, Director, Investor Relations
(281) 921-6400
Forward-Looking Statements
The statements in this news release that are not historical
statements, including statements regarding our future financial and
operating performance and liquidity and capital resources, are
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements describe future expectations, plans, results or
strategies and can often be identified by the use of terminology
such as "may", "will", "estimate", "intend", "continue", "believe",
"expect", "anticipate", "should", "could", "potential",
"opportunity", or other similar terminology. All
forward-looking statements are based on management's current
expectations and estimates, which involve risks and uncertainties
that could cause actual results to differ materially from those
expressed in forward-looking statements. Among these factors
are changes in overall economic conditions, changes in the demand
for, or price of, oil and natural gas, changes in the cost of raw
materials and natural gas used in manufacturing our products, risks
related to our ability to access needed cash and capital, our
ability to meet our current and future debt service obligations,
including our ability to maintain compliance with our debt
covenants, our ability to manage distribution costs effectively,
changes in demand and prices charged for our products, risks of
increased competition, technological, manufacturing and product
development risks, our dependence on and loss of key customers and
end users, changes in foreign and domestic government regulations,
including environmental restrictions on operations and regulation
of hydraulic fracturing, changes in foreign and domestic political
and legislative risks, risks of war and international and domestic
terrorism, risks associated with foreign operations and foreign
currency exchange rates and controls, weather-related risks and
other risks and uncertainties disclosed previously and from
time to time in our reports filed with the Securities and Exchange
Commission. We assume no obligation to update
forward-looking statements, except as required by law.
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SOURCE PicOnyx, Inc.