Houston-based CARBO Ceramics Inc. (NYSE: CRR) said March 10 it will idle its proppant manufacturing facility in McIntyre, Ga.
Gary Kolstad, CEO, said that the company started to slow down production earlier this year, in response to managing cash and inventory levels during the oil price downturn. There has been “a negative impact on demand for ceramic proppant,” he added, and said that “any change in the near term” for demand was not apparent.
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