CARBO Ceramics Inc. recently announced that its board of directors has approved the construction of a new ceramic proppant manufacturing facility in the Russian Federation. The facility will be located in the city of Kopeysk, approximately 1000 miles east of Moscow. The facility, which has been designed to produce 100 million pounds per year, is expected to cost approximately $32 million and be completed by the end of 2006. However, the company stressed that groundbreaking on the plant, currently planned for May 2005, is dependent on receiving certain permits from the Russian government. "We are very excited about the board of directors' decision to continue our international expansion plans," said C. Mark Pearson, Ph.D., president. "The demand for our products in Russia has grown rapidly over the past two years, and we believe that the ability to produce and distribute product within Russia will spur further growth in the region."
The company's website is located at http://www.carboceramics.com.