CORPUS CHRISTI,
Texas, July 20, 2005 - TOR Minerals International (NASDAQ:
TORM) said today that previously announced mechanical
difficulties at the company's Netherlands plant have
been resolved and full manufacturing capacity is now
available.
Richard Bowers,
President and CEO, said the problems were due to the
loss of capacity in both of the plant's filtration units.
He said a third unit had been ordered in October 2004
and was delivered in late June 2005. Installation of
that unit will be completed this month giving the facility
additional filtration capacity.
He also said that loss of production, unabsorbed costs
and costs of repairs had a significant effect on second
quarter results. Second quarter 2005 earnings per fully
diluted share are expected to be in the range of $0.03
to $0.04.
Based in
Corpus Christi, Texas, TOR Minerals is an international
manufacturer of specialty mineral products for high
performance applications with plants and regional offices
located in the United States, Netherlands and Malaysia.
This statement provides forward-looking
information as that term is defined in the Private Securities
Litigation Reform Act of 1995, and, therefore, is subject
to certain risks and uncertainties. There can be no
assurance that the actual results, business conditions,
business developments, losses and contingencies and
local and foreign factors will not differ materially
from those suggested in the forward-looking statements
as a result of various factors, including market conditions,
general economic conditions, including the risks of
a general business slow down or recession, the increasing
cost of energy, raw materials and labor, competition,
advances in technology, changes in foreign currency
rates, freight price increases, commodity price increases,
delays in delivery of requirement equipment and other
factors.
Contact
for Further Information:
David Mossberg
Beacon Street Group Investor Relations
(817) 459-2346