TOR Minerals International Reports First Quarter Financial Results
www.cnchemicals.com Time：2013-05-10 Sources of information：www.cnchemicals.com
TOR Minerals International, producer of synthetic titanium dioxide and color pigments, specialty aluminas, and other high performance mineral fillers, today announced its financial results for the first quarter ended March 31, 2012.
Net sales increased 34 percent during the first quarter of 2012 due to increases in all three of the Company＇s primary product categories. Sales of titanium dioxide (TiO2) pigments, which include HITOX®, TIOPREM® and synthetic rutile products, increased 38 percent to $6.1 million, as increased sales volume in North America and higher prices more than offset decreased sales volumes in Asia. Sales of specialty alumina, which includes the ALUPREM®, HALTEX® and OPTILOAD® product groups, increased 22 percent during the first quarter of 2012. In addition to increased volumes, specialty alumina sales benefited from a mix shift, which positively affected average selling prices.
Commenting on sales trends, Dr. Olaf Karasch, Chief Executive Officer, said, "We achieved record quarterly revenue again during the first quarter, marking our third quarter of record performance in the past four quarters. Overall, we continued to experience strong growth in sales volumes, as new customers are realizing the value-added characteristics of our niche specialty mineral products and are transitioning from sample to production order quantities. In addition, higher average selling prices in all of our product lines are contributing to our revenue growth."
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