TOR Minerals International, Inc. produces specialty mineral products worldwide.
The company’s specialty mineral products, which include flame retardant and smoke suppressant fillers, engineered fillers, and titanium dioxide (TiO2) color hybrid pigments, are designed for use in plastics, coatings, paints and catalysts applications, as well as a range of other industrial applications.
Products
The company and its subsidiaries operate in the business of mineral product manufacturing in three geo...
TOR Minerals International, Inc. produces specialty mineral products worldwide.
The company’s specialty mineral products, which include flame retardant and smoke suppressant fillers, engineered fillers, and titanium dioxide (TiO2) color hybrid pigments, are designed for use in plastics, coatings, paints and catalysts applications, as well as a range of other industrial applications.
Products
The company and its subsidiaries operate in the business of mineral product manufacturing in three geographic segments. Foreign manufacturing is done by the company’s wholly-owned subsidiaries, TOR Minerals Malaysia, Sdn. Bhd. (TMM) and TOR Processing and Trade, B.V. (TPT).
The company sells its products through a network of direct sales representatives employed by the company and independent stocking distributors in the United States, as well as distributors and agents overseas. The company’s sales representatives sell directly to end-users and provide technical support and market guidance for its independent distribution network.
ALUPREM
Alumina Trihydrate (ATH) and Boehmite (AMH) products are produced at the company’s European operation and are designed for the worldwide applications.
ALUPREM TB and SR (Synthetic Rutile) Boehmite alumina products are suitable for a range of applications, including wire and cable, catalysts, high-tech polishing, coatings and pigments.
ALUPREM XHL is primarily designed ATH for ‘Extra High Loading’ to meet various flame retardant and smoke suppressant requirements for sheet molding compound (SMC), bulk molding compound (BMC), pultrusion, and other thermoset composite applications.
ALUPREM TA Bayer and TG ultra-white/translucent grade ATH products are designed for color critical applications like solid surface and performance driven uses, such as wire and cable.
HITOX
HITOX (high grade TiO2) is a beige colored TiO2 pigment produced at both the company’s U.S. and Asian operations. In products, which require opacity and color, HITOX could reduce the amount of organic and inorganic pigments, as well as white TiO2. HITOX is used in a range of paint and coatings and plastics applications, including architectural, coil backers, powder, container, wood, traffic, paper, primers, adhesive and sealants, roof coatings and PVC.
BARTEX and BARYPREM
High whiteness and brightness, chemical inertness and controlled particle sizing are features of BARTEX. Barium Sulfate’s high density is one of the primary reasons it is used as a pigment. Suitable for use in both acid and basic conditions, BARTEX gives weight and body to products ranging from powder coatings to rubber products and plastics. BARTEX is also used as an extender pigment in top coats and primers.
OPTILOAD
OPTILOAD ATH, primarily developed for ‘Optimum Loading’, offers a halogen-free solution for passing the flame retardant and smoke suppressant requirements. Produced at the company’s U.S. operation, the low viscosity OPTILOAD series offers high performance in a range of thermoset composite applications, including SMC, BMC, pultrusion, resin infusion and spray-up/hand lay-up.
HALTEX
HALTEX ATH is a non-toxic, flame retardant and smoke suppressant filler produced at the company’s U.S. operation for supply to the North American market. HALTEX features tightly controlled particle sizing to meet specific application performance requirements. Quality is suitable for a range of uses, including electrical components, SMC, BMC, adhesives and sealants, roof coatings, foam insulation and rubber mining belts.
TIOPREM
TIOPREM is a TiO2 colored hybrid pigment produced at both the U.S. and Asian operations. TIOPREM offers heat stability making it suitable for use in high temperature resins and coatings. Typical applications are plastic master batch, color concentrates and liquid color.
Marketing and Customers
Sales and Marketing Department Organization
The company has sales offices at its U.S., Asian, and European operations.
Independent Distributors and Agents
The company utilizes a network of both domestic and foreign independent distributors and agents. Within North America there are multiple agents serving the company on either a regional or a product basis. In various other countries there is one stocking distributor who purchases directly from the company and resells in their territory.
Customers
The company’s end-use customers include companies in the paints, coatings and plastics, as well as other industries. For the year ended December 31, 2017, one of the company’s customers, BASF, represented 14% of its total consolidated sales.
Geographic Distribution
The company sells its products worldwide and markets them in North, Central and South America; Asia; and Europe to customers located in approximately 60 countries.
Research and Development/Technical Services
The company’s expenditures for research and development and technical services were approximately $200,000 in 2017.
Environmental Regulations and Product Safety
The company’s plant in Corpus Christi is subject to regulations promulgated by the Federal Environmental Protection Agency and state and local authorities with respect to the discharge of substances into the environment.
TMM's SR plant is required to be licensed by the Malaysian Atomic Energy Licensing Board as the ilmenite previously used by the plant’s SR production is derived from tin tailings and might contain small amounts of monazite and hafnium, which are radioactive rare earth compounds.
TPT operates an alumina processing plant in Hattem, the Netherlands; and is governed by rules promulgated by both the Netherlands and the European Community.
Seasonality
The company’s business is correlated with the construction industry and its demand for materials that use pigments, such as paints and plastics. This has led to higher sales in the company’s second and third quarters (year ended December 2017) due to increases in construction and maintenance during warmer weather.
Patents and Trademarks
Seven of the company’s products, HITOX (4/30/2025), ALUPREM (7/29/2023), HALTEX (7/28/2019), BARTEX (2/24/2027), TIOPREM (8/5/2018), OPTILOAD (10/27/2019), and BARYPREM (8/31/2026), are marketed under names, which have been registered with the United States Patent and Trademark Office. Trademarks are also registered in certain foreign countries.
Competition
The company’s competitors include Kronos, Inc.; the Chemours Company; and J.M. Huber.
History
TOR Minerals International, Inc. was founded in 1973.
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.
