Business News
TOR Minerals Completes Newest Powder Treatment Center
2008-07-17 13:25:00
Improves Efficiencies of Production and Logistics Operations
CORPUS CHRISTI, Texas, July 17 /EMWNews/ -- TOR Minerals
International (Nasdaq: TORM), producer of synthetic titanium dioxide and
color pigments, specialty aluminas, and other high performance mineral
fillers today announced the completion its newest powder treatment center
in Malaysia and changes to production and logistics operations designed to
improve efficiencies and customer service worldwide.
Dr. Olaf Karasch, CEO of TOR Minerals said, "Making our Malaysian
facility state-of-the-art enables TOR Minerals to better serve the rapidly
growing Asian markets, and increase worldwide production and logistics
efficiencies. This enhanced efficiency has allowed the Malaysian plant to
assume a significant portion of our Corpus HITOX(R) production. TOR's
Corpus facility now has increased capacity to focus on producing our newly
introduced TIOPREM(R) colored pigments, which have received strong initial
interest from customers."
TOR also announced that it will utilize two new warehouse locations in
Norfolk, Virginia and Oakland, California to store HITOX(R) and serve
customers in the Northeastern and Northwestern regions of North America.
"Having the ability to ship product directly from our Malaysian operations
to these strategically located warehouses shortens delivery times and
reduces freight costs for TOR's customers," Dr. Karasch commented. Barbara
Russell, TOR's CFO, added, "These changes should have a positive impact on
our profitability and reduce our stocking requirements of synthetic rutile,
thereby improving inventory turns and cash flows."
Headquartered in Corpus Christi, Texas, TOR Minerals is a global
manufacturer and marketer of specialty mineral and pigment products for
high performance applications with manufacturing and regional offices
located in the United States, Netherlands and Malaysia.
This statement provides forward-looking information as that term is
defined in the Private Securities Litigation Reform Act of 1995, and,
therefore, is subject to certain risks and uncertainties. There can be no
assurance that the actual results, business conditions, business
developments, losses and contingencies and local and foreign factors will
not differ materially from those suggested in the forward-looking
statements as a result of various factors, including market conditions,
general economic conditions, including the present slow down in U.S.
construction and the risks of a general business slow down or recession,
the increasing cost of energy, raw materials and labor, competition, the
receptivity of the markets for our anticipated new products, advances in
technology, changes in foreign currency rates, freight price increase,
commodity price increases, delays in delivery of required equipment and
other factors.
Contact for Further Information:
David Mossberg
Beacon Street Group, LLC
(817) 310-0051
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