TOR Minerals International to Sell Texas Assets to Cimbar

TOR Minerals International, Inc., producer of high-performance specialty minerals products, agreed to sell the manufacturing assets of its Corpus Christi, Texas, facility to Cimbar Performance Minerals, Inc., a division of United Minerals and Properties, Inc.

Along with the facility assets, TOR will also sell the associated businesses of aluminum trihydrate (ATH) and barium sulfate (Barite) to Cimbar. 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. The agreement is expected to close on April 15, 2021, subject to customary closing conditions.

As a result of the anticipated transaction, TOR 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 United States. The company’s shares will continue to be traded on the Pink Market, operated by OTC Markets Group. The symbol, TORM, will remain unchanged.

The post TOR Minerals International to Sell Texas Assets to Cimbar appeared first on American Coatings Association.

from American Coatings Association https://www.paint.org/tor-minerals-international-to-sell-texas-assets-to-cimbar/
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