New plant (3813N)
August 31 2011 - 11:54AM
UK Regulatory
TIDMCOD
RNS Number : 3813N
Compagnie de Saint-Gobain
31 August 2011
August 31, 2011
Saint-Gobain to Invest $100 million in New Proppant Plant in the
United States
Saint-Gobain today announced the construction of a proppant
plant in Saline County, Arkansas, in the United States.
Representing a total investment of $100 million (EUR 69
million), the new facility will be built on a 28-hectare parcel of
land and will eventually provide jobs for 140 people.
The new plant will manufacture proppants - spherical beads about
the size of a grain of sand that are used in the oil and gas
industry.Proppants are inserted into underground fractures in oil
and gas wells to "prop" open the fracture, increasing conductivity
and enhancing well performance.
Saint-Gobain already produces proppants in China and in Fort
Smith, Arkansas.
"This investment is part of Saint-Gobain's strategy to invest in
new technologies for energy and the environment," says John Crowe,
Saint-Gobain general delegate in North America. "Growth in global
energy demand is creating greater activity among oil and gas
drilling companies, whose need for proppants will eventually exceed
the production capacity of our Fort Smith facility. Saline County
is the perfect location for the new plant because of its proximity
to our major US oil and gas customers."
Saint-Gobain plans to break ground for the new facility by the
end of the year, with production expected to start in late
2012.
About Saint-Gobain
Located in 64 countries with nearly 190,000 employees,
Saint-Gobain, the world leader in the habitat and construction
markets, designs, manufactures and distributes building materials,
providing innovative solutions to meet growing demand in emerging
and mature countries, for energy efficiency and for environmental
protection. Saint-Gobain NorPro provides ceramic solutions to the
oil, gas and petrochemicals industry. In particular, it is world
No2 for the production of proppants for use in oil and gas
drilling.
For more information about Saint-Gobain, please visit:
www.saint-gobain.com
For more information about Saint-Gobain NorPro, please visit:
http://www.norpro.saint-gobain.com
Analyst/Investor Relations Press Contact
---------------------------------- -----------------------------
Florence Triou-Teixeira +33 1 47 Sophie Chevallon +33 1 47 62
62 45 19 30 48
Etienne Humbert +33 1 47 62 30
49
Vivien Dardel +33 1 47 62 44 29
---------------------------------- -----------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCWGUPARUPGGAG
Compagnie De Saint-gobain (LSE:COD)
Historical Stock Chart
From Sep 2024 to Oct 2024
Compagnie De Saint-gobain (LSE:COD)
Historical Stock Chart
From Oct 2023 to Oct 2024