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[June 2001]
Ceramic Proppant Ownership Changes in North American Market
Norton Proppants Inc - a wholly owned subsidiary of Saint-Gobain - has purchased Alcoa's 50% share in Norton-Alcoa Proppants, a 50/50 joint venture formed in 1984 by Aluminium Co of America (Pittsburgh, PA, USA) and Norton Company (Worcester, MA, USA) to manufacture proppants for oil and gas well fracturing.
Norton-Alcoa Proppants, which employs 140 people, is headquartered in Fort Smith, Arkansas and has two plants - one in Fort Smith itself and the other in Bryant, Arkansas. Roy Webber, President and CEO of Norton-Alcoa Proppants, which will now operate under the name Norton Proppants Inc, continues in his position.
"The acquisition of Alcoa's interest in this joint venture establishes Saint-Gobain as a key player with 17 years' experience in the proppants segment of the oil field services industry," said Webber. "Although our name has been changed to Norton Proppants Inc, we will continue to develop, manufacture and market ceramic proppants. The change will be transparent to our customers."
ENDS