CARBO Ceramics To Mothball Proppant Manufacturing Facility In McIntyre

(RTTNews) - CARBO Ceramics Inc. (CRR) announced it has decided to mothball its proppant manufacturing facility in McIntyre, Georgia. The company said its actions were in direct response to a depressed commodity price for oil and the resulting negative impact on industry activity levels, which is having a negative impact on demand for ceramic proppant.

CEO Gary Kolstad said: "We have not seen improvement in demand for ceramic proppant, nor do we anticipate any change in the near term. With this outlook in mind, we have decided to mothball our facility in McIntyre, Georgia until such time as market conditions warrant bringing it back online."

The company noted that it continues to manage the collective output of other proppant facilities, which includes slowing down and idling production as deemed necessary.