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Carbo Ceramics Inc.
CARBO Ceramics Inc. Announces Sale of Fracture and Reservoir Diagnostic Assets and Stock Repurchase Plan
September 14th, 2008
CARBO Ceramics Inc. (NYSE:CRR) has entered into a definitive agreement with Halliburton (NYSE:HAL) to sell a portion of the assets of its wholly-owned subsidiary, Pinnacle Technologies, for $137 million. The Company will sell its Fracture and Reservoir Diagnostics business, including the Pinnacle Technologies, Inc. name and related trademarks to Halliburton but will retain the industry-leading hydraulic fracturing simulation software FracProPT, the hydraulic fracturing design, engineering and consulting business and Applied Geomechanics, a leader in tiltmeter technology for geotechnical applications. In addition, the Company's Board of Directors authorized the...
Source: Pharma Investments, Ventures & Law Weekly (2008-09-14)
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