CARBO Ceramics To Construct Manufacturing Plant In Millen, Georgia; Create 70 New Jobs
HOUSTON, May 3, 2012 /PRNewswire/ -- CARBO Ceramics Inc. ("CARBO") will begin construction on a state-of-the-art ceramic manufacturing plant in Millen, Georgia, announced Gary Kolstad, President and Chief Executive Officer.
Having received its air quality permit from the State of Georgia, CARBO should commence construction on the first production line by the end of 2012 and operations could begin near the end of 2013. Initial staffing for the plant should create 70 new jobs in Jenkins County. The project will bring up to 300 construction jobs to the area during assembly of the plant.
The manufacturing plant will be situated on 450 acres and conveniently located for product distribution by truck or rail. In addition to the distribution flexibility, the site has the ability to expand to four production lines. Ceramic proppant is used in hydraulic fracturing to make oil and gas wells produce better and recover more oil and gas.
"This new investment by CARBO is a strong endorsement of Georgia's workforce and the other resources that help companies thrive here," said Gov. Nathan Deal. "CARBO is known for its high standard of excellence, and we appreciate its decision to put down additional roots in our state."CARBO has invested more than $350 million and employs more than 200 people in Georgia. CARBO opened its first manufacturing plant in McIntyre, GA in 1998, followed in 2005 by another manufacturing plant in Toomsboro, GA. All CARBO manufacturing plants are built for safety with strict quality control standards and are ISO 9001:2000 certified. The Toomsboro plant earned the Georgia Mining Association "President's Award" for safety in 2011. "CARBO's influence in Georgia is more than just business – we have roots in the state and take great pride in seeing our employees thrive and the communities we operate in grow," said Mr. Kolstad. "We look forward to the opportunities that the Millen location will provide." CARBO is the world's largest supplier of ceramic proppant for fracturing oil and gas wells and a major supplier of resin-coated sand proppant; the provider of the industry's most widely used 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, distribution 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
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV