CARBO Ceramics, a manufacturer of ceramic proppants for use in the hydraulic
fracturing of natural gas and oil wells, announced today that its Board of
Directors has approved the construction of a new ceramic proppant
manufacturing facility in the Russian Federation. The facility will be
located in the city of Kopeysk, in Chelyabinsk oblast of the Russian
Federation, approximately 1,000 miles east of Moscow. The facility has been
designed to produce 100 million pounds per year and is expected to cost
approximately $32 million and be completed by the end of 2006. However, the
company stressed that groundbreaking on the plant, currently planned for May
2005, is dependent on receiving certain permits from the Russian government.
President and CEO, Dr. C. Mark Pearson commented, "We are very excited
about the Board of Directors' decision to continue our international expansion
plans. The demand for our products in Russia has grown rapidly over the past
two years, and we believe that the ability to produce and distribute product
within Russia will spur further growth in the region. This new facility
utilizes the global plant design developed by our engineering team and is
designed to be readily expanded if future demand warrants. We have had
outstanding cooperation from the regional and city governments and look
forward to getting the permits necessary to start construction shortly."
CARBO Ceramics Inc. is based in Irving, Texas.