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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."