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Carbo Ceramics Grapples with Financials Are Losing Biggest Customer
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Carbo Ceramics detailed its 3rd quarter update.
Here is a quick look at the important things the company talked about:
The company has engaged a financial advisor, stating that they are experiencing deep finanical problems and need outside help to look for a buyer of the assets, etc. The company lost its biggest purchaser of frac sand It will be looking to diversify outside of the oil & gas businessThe company also said "there is an elevated risk associated with the company meeting its existing financial forecast and the company may ultimately conclude it is unable to continue."
Engages Financial Advisor"With support from our Board of Directors, management has engaged financial advisers to assist with certain of the company's liquidity-enhancing initiatives."
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