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CARBO Ceramics Inc. Receives Board Approval on Resin-Coating Expansion
May 17, 2011 (05:05 PM EDT)
HOUSTON, May 17, 2011 /PRNewswire/ -- CARBO Ceramics Inc. (NYSE: CRR) today reported that its Board of Directors has approved a resin-coating capacity expansion at the Company's recently acquired Marshfield, Wisconsin, location. As indicated in the Company's first quarter 2011 earnings release, this expansion project, which is subject to state and local permitting approval, will involve the construction of a facility with an initial capacity of up to 600 million pounds annually. Project completion is estimated prior to the end of 2012.
CARBO is the world's largest supplier of ceramic proppant for fracturing oil and gas wells; provider of the industry's most popular fracture simulation software; and a provider of fracture design and consulting services. The Company also provides a broad range of technologies for spill prevention, containment and countermeasures, along with 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 the cost of raw materials and natural gas used in manufacturing our products, 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.
SOURCE CARBO Ceramics Inc.