08 MAY 2015AlCircle.com
Specialty alumina maker TOR Minerals declares Q1 2015 results
Edited by : AL CIRCLE
1 min read
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."
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."
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
EGA’s new alumina refinery due to begin construction this year
Next articleAlumina sees a jump in earnings for Q1 2015
Grow with
AL Circle
