CARBO® and PicOnyx Finalize Strategic Partnership for production of M-Tone™ Black Pigments
CARBO CERAMICS (CRR)
Last carbo ceramics earnings: 11/8 05:00 pm
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Source: PR Newswire
HOUSTON, May 30, 2019 /PRNewswire/ -- CARBO Ceramics Inc. (NYSE: CRR) and PicOnyx, Inc. today announced that they have executed the definitive agreements that will govern their previously announced strategic partnership for the production of M-Tone. An innovative family of unique, high performance black pigments, M-Tone addresses customer needs for black pigments with higher performance and greater functionality that are more environmentally friendly than other available alternatives.Under the terms of the definitive agreements, CARBO will provide certain production assets and services to PicOnyx and will provide PicOnyx with significant manufacturing capacity, production capabilities and resources to support PicOnyx's aggressive growth plans for M-Tone. In exchange for its contributions and services, CARBO will obtain an equity stake in PicOnyx, and under the terms of a contract manufacturing agreement, CARBO will produce M-Tone for PicOnyx on a cost-plus basis.The manufacturing op
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