FORT WORTH, TX—Having bought it just two years ago, FTS International is putting a vacant industrial building back on the block.
FTS, also known as Frac Tech Services, told the Fort Worth Star-Telegram that it plans to sell the 550,000 square-foot building at 4601 Gold Spike Drive.
When FTS purchased the building (from ConAgra) in 2011, it was considering the site for a state-of-the-art manufacturing, repair and testing facility. Natural gas drilling in the Barnett Shale has slowed significantly in the past year and is at its lowest level since 2008.
FTS reported a 27 percent drop in revenue for the third quarter because demand for its services had waned. The company has also changed leadership.
Click Fort Worth Star-Telegram to read the full story.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
