Printer Friendly

HITOX'S ACQUISITION OF A SPANISH COMPANY COMPLETED

 HITOX'S ACQUISITION OF A SPANISH COMPANY COMPLETED
 CORPUS CHRISTI, Texas, Jan. 31 /PRNewswire/ -- Hitox Corporation of


America (NASDAQ: HTXA), producer of buff-colored titanium dioxide pigment (HITOX) used in the manufacture of paints, industrial coatings and plastics, has acquired substantially all of the outstanding shares of Fluid Minerals Espanola, S.A. (FME), in Bunuel (Navarra) Spain, Richard L. Bowers, chairman and president, announced today. The transaction, he indicated, has been approved by the Spanish government.
 According to Bowers, Hitox had owned 27.06 percent of the outstanding shares of FME and issued 28,950 shares of Hitox common stock in exchange for all but 4 percent of the remaining equity interest of FME subject to FME's outstanding debts.
 Bowers said, "The Fluid Minerals acquisition provides us with an important manufacturing facility and distribution base in the European Economic Community. We have already shipped raw materials to the plant and intend to commence manufacturing and marketing HITOX titanium dioxide pigment in February."
 Headquartered in Corpus Christi, and with manufacturing facilities in Malaysia, Spain and the United States, Hitox Corporation manufactures pigments and extenders which are marketed worldwide to paint, plastics and chemical industries.
 -0- 1/31/92
 /CONTACT: Thomas L. Tao, executive VP and CFO of Hitox, 512-882-5175/
 (HTXA) CO: Hitox Corporation of America ST: Texas IN: SU: TNM


CK-OS -- NY039 -- 5641 01/31/92 13:05 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 31, 1992
Words:226
Previous Article:GILBERT ASSOCIATES REPORTS RESULTS, DECLARES DIVIDEND
Next Article:ENTERGY CORPORATION DECLARES QUARTERLY DIVIDEND, CONTINUES STOCK REPURCHASE PROGRAM


Related Articles
Hitox Corporation Reports Higher Sales and Profits for Third Quarter.
Notification of Tender Offer Received by Hitox Corporation of America.
Hitox Corporation Reports Higher Sales and Income for First Quarter.
Paulson Acquisition Tender to Close Today.
Paulson Acquisition Announces Completion of Tender Offer for Hitox Corporation of America.
Hitox Announces Termination of Negotiations With Zemex Corporation Over Buy-Out Bid.
Hitox Announces Termination of Negotiations With Zemex Corporation Over Buy-Out Bid.
Hitox Corporation of America Retains Rubenstein Investor Relations.
Hitox Corporation Name Change; Symbol Will Change From HTXA to TORM.
TOR Minerals completes plant expansion, launches new product.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters