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[March 2003]
TOR Minerals International Announces Malaysian Plant Upgrade
TOR Minerals International (Corpus Christi, TX, USA) has announced plans to upgrade its Malaysian synthetic rutile plant with technology and equipment that will allow significant savings in the cost of production, as well as allowing an increase in capacity.Richard Bowers, President and CEO, said that as part of a programme to commit the sale of significant quantities of synthetic rutile to a major titanium pigment producer, the company would upgrade the plant in Ipoh, Malaysia. The first phase of construction is underway and will conclude at the end of the current quarter at which time TOR will produce the 10,000 tons of synthetic rutile already contracted for by its new customer and a similar quantity for its own consumption.
There will be ongoing process modification that should allow for the production and sale of at least 30,000 tons of SR to a third party in subsequent years. Mr Bowers indicated he believed that the long-term supply contract referred to in TOR's 9 October 2002 release would be completed within the current quarter.
TOR manufactures pigments in Texas, Malaysia and Holland which are marketed world-wide.
ENDS