CARBO Ceramics Inc. Announces Acquisition of BBL Falcon Assets
October 02 2009 - 4:30PM
PR Newswire (US)
HOUSTON, Oct. 2 /PRNewswire-FirstCall/ -- CARBO Ceramics Inc.
("CARBO") announced today that it has acquired through a wholly
owned subsidiary the assets of BBL Falcon Industries, Ltd., a
leading supplier of spill prevention and containment systems for
the oil and gas industry. President and CEO Gary Kolstad commented,
"Falcon is an excellent addition to CARBO's current product and
service offerings. We are excited about adding another growing
business to CARBO, and are pleased that we will be selling Falcon's
products and services to our existing client base of E&P and
oilfield services companies. Falcon uses proprietary technology to
provide value-added solutions that are designed to enable our
clients to extend the life of their storage assets, reduce the
potential for hydrocarbon spills and provide secure containment of
stored materials. We believe these issues remain important as the
oil and gas industry continues to increase its focus on
environmental responsibility and compliance with Spill Prevention,
Control and Countermeasure ("SPCC") regulations. While Falcon
currently serves a five-state region, we anticipate expanding its
operations into other key oil and gas producing regions in the near
future." Kolstad further commented, "Falcon started operations in
2003, and as they have developed their proprietary polyurea coating
technology, their client base has continued to grow. In particular,
E&P companies have found the technology aids in reducing their
business environmental risks and operating costs. This brings value
in helping them exhibit their environmental stewardship." CARBO
Ceramics Inc., based in Houston, Texas, is the world's largest
supplier of ceramic proppant, the provider of the world's most
popular fracture simulation software, and a leading provider of
fracture design and consulting services. The Company also provides
a broad range of technologies for geotechnical monitoring. The
statements in this news release that are not historical statements,
including statements regarding our future financial and operating
performance, are forward-looking statements within the meaning of
the federal securities laws, including the Private Securities
Litigation Reform Act of 1995. 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 demand and prices charged for our products,
changes in the demand for, or price of, oil and natural gas, risks
of increased competition, technological, manufacturing and product
development risks, loss of key customers, changes in government
regulations, foreign and domestic political and legislative risks,
the 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 described in our publicly available filings with the
Securities and Exchange Commission. We assume no obligation to
update forward-looking statements, except as required by law.
DATASOURCE: CARBO Ceramics Inc. CONTACT: Ernesto Bautista III, CFO
of CARBO Ceramics Inc., +1-281-921-6400 Web Site:
http://www.carboceramics.com/
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