 |
 |
||||||
[January 2004]
CARBO Ceramics Announces Construction of New Plant
CARBO Ceramics Inc (Irving, TX, USA) has announced that its Board of Directors has approved the construction of a new manufacturing plant in Wilkinson County, GA, USA. The plant is designed to have an annual manufacturing capacity of 250 million pounds of ceramic proppants, an increase of 35% on the company's current annual capacity. The plant is expected to be operational by the end of 2005 and is expected to cost US$62 million.
Commenting on the new facility, President and CEO Dr Mark Pearson said: "We are very pleased with oil and gas producers' increasing recognition of the value added through the use of ceramic proppants in the hydraulic fracturing of their wells. The decision to move forward on this facility reflects our belief that this recognition will continue to increase the demand for our products. The facility's location in Wilkinson County is designed to take advantage of the significant raw material deposits we have acquired in the area over the last two years".
The company also announced that the Board had approved the payment of a dividend on 16 February 2004 of US$0.10 per share to shareholders of record on 30 January 2004.
www.carboceramics.com
ENDS