Petro Welt Technologies AG and CARBO Ceramics Inc. close proppant plant sale transaction - antitrust approval of the purchase granted

22.09.2017  |  DGAP

* Acquisition of CARBO Ceramics (Eurasia) LLC is closed on September 21st 2017

Vienna / Moscow, 22 September 2017 - CARBO Ceramics (Eurasia) LLC owner of the Russian manufacturing facility of CARBO Ceramics Inc., a global technology company that provides products and services to the oil and gas and industrial markets, was acquired by Petro Welt Technologies AG (PeWeTe). The transaction was completed on 21 September 2017 through the acquisition of all shares of CARBO Ceramics Cyprus Ltd. at a purchase price of USD 22 million. PeWeTe, one of the leading international oil field service providers, was granted the antitrust approval from the Russian authorities for the purchase of CARBO Ceramics (Eurasia) LLC. Yury Semenov, ?EO of PeWeTe, in his comments stated: "This deal is a significant beneficial contribution into PeWeTe's Strategy of Growth." CARBO Ceramics (Eurasia) LLC has a proppant manufacturing facility in Kopeysk, Russia. The manufactured products have a very strong reputation between hydro fracking companies and appreciated by oil and gas Producers. PeWeTe is evaluating options to increase volume of proppant manufacturing as for internal so for external requests. The company will thus be consolidated in the third quarter of 2017 and will be financially effective for PeWeTe from the fourth quarter of 2017 onwards.



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