FOR IMMEDIATE RELEASE
TOR Minerals International Completes Sale of Corpus Christi Assets
CORPUS CHRISTI, Texas, April 15, 2021— TOR Minerals International, Inc. (OTCPink: TORM), global producer of high performance specialty minerals products, today announced it has completed the sale of the operational assets of its Corpus Christi, Texas facility, subject to certain excluded assets, to United Minerals and Properties, Inc. d/b/a Cimbar Performance Minerals, Inc. Along with the facility assets, TOR has also sold to Cimbar the associated businesses of Alumina Trihydrate (ATH) and Barium Sulfate (Barite).
“Over the past several years, a consistent objective of TOR Minerals has been to shift the company’s growth and expansion strategy towards our global specialty businesses, ”said Jim Roecker, Vice Chairman and Chief executive Officer. “The sale of the Corpus assets will enable us to further invest in the growth of these specialty businesses and take full advantage of the attractive profitability they provide. I would like to thank all of our Corpus employees for the outstanding job they have done over the years in operating and maintaining the facility safely and reliably. Although with this transaction we leave behind an important piece of TOR Minerals history, we also set the course toward an exciting new future for our company – a future that holds great opportunity for financial success.”
About TOR Minerals International, Inc.
TOR Minerals International, Inc., established in 1980, is headquartered in Corpus Christi, Texas, with manufacturing and regional offices located in the United States, the Netherlands, and Malaysia. The Company is a global producer of high performance, specialty mineral products focused on product innovation and technical support. Our specialty mineral products, which include flame retardant and smoke suppressant fillers,
engineered fillers, and titanium dioxide color hybrid pigments, are designed for use in plastics, coatings, paints and catalysts applications, as well as a wide range of other industrial applications.
To learn more about TOR Minerals, please visit our website at www.torminerals.com.
Some of the statements made in this release may be forward-looking statements. Forward-looking statements relate to expectations or may involve known or unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements reflect current views but are based on assumptions and are subject to risks, uncertainties and other variables which should be considered when making an investment decision. Forward-looking statements are relevant only as
of the dates made, and the Company undertakes no obligation to update any forward-looking statement to reflect new information, events or circumstances after the date on which the statement is made. All written or oral forward-looking statements that are made by or are attributable to the Company are expressly qualified in their entirety by this cautionary notice. Actual results may differ significantly from the results discussed in these forward-looking statements.
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