HOUSTON, Oct. 2 /PRNewswire-FirstCall/ -- CARBO Ceramics Inc. ("CARBO") announced today that it has acquired through a wholly owned subsidiary the assets of BBL Falcon Industries, Ltd., a leading supplier of spill prevention and containment systems for the oil and gas industry.
President and CEO Gary Kolstad commented, "Falcon is an excellent addition to CARBO's current product and service offerings. We are excited about adding another growing business to CARBO, and are pleased that we will be selling Falcon's products and services to our existing client base of E&P and oilfield services companies. Falcon uses proprietary technology to provide value-added solutions that are designed to enable our clients to extend the life of their storage assets, reduce the potential for hydrocarbon spills and provide secure containment of stored materials. We believe these issues remain important as the oil and gas industry continues to increase its focus on environmental responsibility and compliance with Spill Prevention, Control and Countermeasure ("SPCC") regulations. While Falcon currently serves a five-state region, we anticipate expanding its operations into other key oil and gas producing regions in the near future."
Kolstad further commented, "Falcon started operations in 2003, and as they have developed their proprietary polyurea coating technology, their client base has continued to grow. In particular, E&P companies have found the technology aids in reducing their business environmental risks and operating costs. This brings value in helping them exhibit their environmental stewardship."
CARBO Ceramics Inc., based in Houston, Texas, is the world's largest supplier of ceramic proppant, the provider of the world's most popular fracture simulation software, and a leading provider of fracture design and consulting services. The Company also provides a broad range of technologies for 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 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.
CARBO Ceramics Inc.
CONTACT: Ernesto Bautista III, CFO of CARBO Ceramics Inc.,
+1-281-921-6400
Web Site: http://www.carboceramics.com/
