CARBO Ceramics Announces Reopening of New Iberia, Louisiana Manufacturing Facility
November 18 2008 - 7:58AM
PR Newswire (US)
IRVING, Texas, Nov. 18 /PRNewswire-FirstCall/ -- CARBO Ceramics
Inc. (NYSE:CRR) announced today that it will resume production of
ceramic proppant in its New Iberia, Louisiana manufacturing
facility. Production at the plant is expected to begin in December
with first product being available for sale in January 2009. The
facility is expected to add 50 million pounds to the company's
current annual manufacturing capacity. President and CEO Gary
Kolstad stated, "As industry leaders, we have again proven our
willingness to meet the needs of our clients through increased
investment in the ceramic proppant business. Drilling activity in
fracture-intensive resource plays has resulted in unprecedented
demand for our high-quality ceramic proppant. This plant is
strategically located to supply the growing demand for ceramic
proppant in the Haynesville Shale formation in northeastern
Louisiana and east Texas. We expect much of the output of the plant
to be directed to that region. The E&P operators' desire to
maximize the Economic Conductivity(TM) of their reservoirs
continues to drive our production expansion. We are also moving
forward with the construction of a third production line at our
Toomsboro, Georgia facility that is expected to add 250 million
pounds of annual capacity in early 2010." CARBO Ceramics Inc.,
based in Irving, 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,
engineering 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 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 SEC. We assume
no obligation to update forward-looking statements, except as
required by law. DATASOURCE: CARBO Ceramics CONTACT: Paul Vitek,
CFO of CARBO Ceramics, +1-972-401-0090 Web site:
http://www.carboceramics.com/
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