Specialty alumina maker TOR Minerals declares Q1 2015 results

TOR Minerals International, makers of specialty mineral products, declared its first quarter financial results on 6th May, 2015.

The company reported specialty alumina revenue of $4,348 for the first quarter of 2015, compared to $5,259 reported for the same period last year. There has also been a dip of 17% in net sales of specialty alumina.

The company experienced overall fall in revenue by 23% to $10.1million in Q1 2015 and net loss of ($190,000) versus Q1 2014 net income of $707,000.

The decrease in specialty alumina sales, which includes ALUPREM®, HALTEX® and OPTILOAD® was pegged primarily to a decrease in volume from a large U.S. customer while the negative effect on foreign currency translation also played a part.

TOR however confirms that there will be a unit volume growth expected in specialty alumina and CEO Dr. Olaf Karasch says “During the first quarter we spent approximately $1 million as part of our project to double specialty alumina plant capacity to meet the anticipated increase in demand over the next 24 months."

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.