Flotek (FTK) Completes Expansion of Oklahoma Chemical Facility
Up)
Flotek Industries, Inc. (NYSE: FTK) announced today that it has completed an initial expansion of its Marlow, Oklahoma chemical production facility.
The growth plan provides for more rapid production and mixing capabilities as well as additional capacity. The expansion more than doubles Flotek's total blending tank capacity. In addition, the improvements increase total bulk storage by over 150% to 398,500 gallons from 158,500 gallons. The completed addition of dry material silos also provide for more efficiency in preparing dry compounds for delivery. In the planning process, Flotek also purchased property adjacent to the current facility which provides necessary land to expand its liquid bulk tank storage facilities.
In addition to increasing capacity, the expansion also enhances efficiency and safety at the facility, allowing Flotek to better anticipate and respond to client needs with industry-leading safety standards.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
The growth plan provides for more rapid production and mixing capabilities as well as additional capacity. The expansion more than doubles Flotek's total blending tank capacity. In addition, the improvements increase total bulk storage by over 150% to 398,500 gallons from 158,500 gallons. The completed addition of dry material silos also provide for more efficiency in preparing dry compounds for delivery. In the planning process, Flotek also purchased property adjacent to the current facility which provides necessary land to expand its liquid bulk tank storage facilities.
In addition to increasing capacity, the expansion also enhances efficiency and safety at the facility, allowing Flotek to better anticipate and respond to client needs with industry-leading safety standards.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
You May Also Be Interested In
- Auxilium (AUXL) Files Suit Against Watson (WPI) Over Testim 1% Gel
- InterDigital (IDCC) Says It Hasn't Seen Huawei Complaint, Can't Offer Response Yet
- Chesapeake (CHK) Shares Surge Amid Report Icahn Now 'Major' Holder
Create E-mail Alert Related Categories
Corporate NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
