TOR Minerals International reported significant gains in sales and operating income for the first quarter of this year. The management of the company said that the improved performance was due to increased demand and higher prices realized for its main products.
TOR Minerals International reported sales of $9.6 million in the quarter ending March 31, 2011, a 40% year over year increase compared to sales of $6.9 million in the comparable quarter in 2010. The company said that sales of specialty alumina and synthetic titanium dioxide were particularly strong during the quarter as the worldwide market for these materials tightened.
TOR Minerals International reported that operating income for the first quarter was $866,000, compared to operating income of $744,000 in the first quarter of 2010.
TOR Minerals International is investing $2 million to expand the capacity of a specialty alumina facility in the Netherlands. The company also expects higher utilization of its titanium dioxide plants in 2011.
For more information on the company, go to www.torminerals.com