IRVING, Texas, Oct. 11 /PRNewswire-FirstCall/ -- Officials of CARBO
Ceramics Inc. (NYSE: CRR) were joined by Senators Robert Brown; B. Joseph
Brush, Jr.; Hugh M. Gillis, Sr.; as well as Representative Kenneth W. Birdsong
and the Commissioner of the Georgia Department of Economic Development, Craig
Lesser, for ground-breaking ceremonies in McIntyre, Georgia at the site of the
company's new manufacturing facility. Members of the Wilkinson County Board
of Commissioners, the Wilkinson County Development Authority, the Wilkinson
County Board of Education, and numerous other state and local officials were
also in attendance.
The company announced in April of this year that its Board of Directors
had approved the construction of this new manufacturing facility. The
facility is designed to have initial annual manufacturing capacity of
250 million pounds, nearly doubling the company's existing capacity in the
region and increasing its worldwide capacity by more than 35 percent. The
plant is expected to be operational by the end of 2005 and will cost
approximately $62 million.
It is anticipated that the new facility will employ several hundred people
at various times during the construction phase and upon completion will employ
a full-time labor force of 45 to 50 employees.
Commenting on the new facility, Dr. C. Mark Pearson, President and CEO of
CARBO Ceramics, said, "The demand for our products remains strong, and we are
eager to move into the construction phase of this project. This facility will
complement our existing facility in McIntyre and will take advantage of the
significant raw material deposits we have acquired in the area over the last
two years. We remain very pleased with the assistance we have received from
the state of Georgia including the State of Georgia Department of Economic
Development, the State of Georgia Department of Natural Resources, the
Wilkinson County Development Authority and the Wilkinson County Board of
Commissioners. We expect the supportive environment for manufacturing in
Georgia, combined with CARBO's existing outstanding workforce and advantageous
raw material position, to be catalysts for our continued growth in the
region."
CARBO Ceramics Inc. is the world's leading producer and supplier of
ceramic proppants, which are used in the hydraulic fracturing of natural gas
and oil wells. Headquartered in Irving, Texas, the company manufactures its
products in three U.S. locations: McIntyre, Georgia; New Iberia, Louisiana;
and Eufaula, Alabama. A fourth manufacturing facility is located in Luoyang,
China. The company has storage and distribution facilities in four U.S.
locations, as well as Canada, Europe, Australia, and China. Company
information can be accessed on the Internet at the company's Web site:
http://www.carboceramics.com .
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. 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 demand 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 SEC. We assume no obligation to update
forward-looking statements, except as required by law.
SOURCE CARBO Ceramics Inc.
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Related links:
http://www.carboceramics.com
CONTACT:
Paul Vitek, CFO of CARBO Ceramics Inc.,
+1-972-401-0090
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