Halliburton Finalizes Cimbar Sale
January 27, 2004
Halliburton Energy Services (HES) has announced the Dec. 1, 2003 sale of Cimbar Performance Minerals (CPM), its world-class barium sulfate operation, to United Minerals & Properties (UMP) for an undisclosed sum. CPM will retain its name and each of the product lines it currently offers: natural barium sulfate, precipitated barium sulfate, nano-barium sulfate, and bentonite. UMP has 27 years of extensive experience in the industrial minerals business. Global Stone, a major producer of ground calcium carbonate, was founded by UMP management and sold in 2000 to Oglebay-Norton. Furthermore, UMP is one of only three domestic producers of Brucite (Magnesium Hydroxide), a key mineral used in water treatment, fire retardant/smoke suppressant, and other performance mineral applications. Al Wilson, General Manager of CPM, says, "This is a substantial and positive development for Cimbar because it will allow us to intensify the focus on our core markets through additional production capabilities and marketing efforts."
For more information, visit http://www.cimbar.com or call (770) 387-0319.