CIMBAR Performance Minerals, Inc. agreed to acquire Operational Assets of Corpus Christi, Texas facility of TOR Minerals International, Inc. for $2.3 million.
March 16, 2021
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CIMBAR Performance Minerals, Inc. agreed to acquire Operational Assets of Corpus Christi, Texas facility of TOR Minerals International, Inc. for $2.3 million on March 17, 2021. The purchase price for the included assets is $2,250,000 plus the inventory value of raw materials, intermediate and finished goods, and consumable materials. Along with the facility assets, TOR will also sell to Cimbar the associated businesses of Aluminum Trihydrate (ATH) and Barium Sulfate (Barite). As a result of the anticipated transaction, TOR Minerals will continue its remaining established global businesses including its subsidiaries TOR Processing and Trade, BV (TP&T) in The Netherlands, and TOR Minerals Malaysia (TMM). TOR Minerals International, Inc. will continue to be headquartered in the US. Subject to satisfaction of applicable closing conditions, the transaction is expected to close in the second quarter of this year.
TOR Minerals International, Inc. is a manufacturer and seller of mineral products for use as pigments and extenders, primarily in the manufacture of paints, industrial coatings plastics, and solid surface applications. The Companyâs products and applications include alumina trihydrate, barium sulfate slurry, boehmite, colored titanium dioxide (TiO2) pigments and white TiO2 synergist. The Company's 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 range of other industrial applications. The Company and its subsidiaries operate in the business of pigment manufacturing and related products in three geographic segments, namely, United States, European and Asian. Its subsidiaries include TOR Minerals Malaysia, Sdn. Bhd. and TOR Processing and Trade, BV.
CIMBAR Performance Minerals, Inc. agreed to acquire Operational Assets of Corpus Christi, Texas facility of TOR Minerals International, Inc. for $2.3 million.
TOR MINERALS INTERNATIONAL, INC. 
