Posted in | Ceramic Materials

CARBO Ceramics Moves Into Russia

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.

http://www.carboceramics.com/

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