NEW YORK, April 18, 2023 (GLOBE NEWSWIRE) — Minerals Technologies Inc. (NYSE: MTX) (“MTI” or “the Company”) today announced that it has entered into three long-term precipitated calcium carbonate (PCC) supply agreements that will further expand the Company’s Specialty Additives product line in China and India.
The agreements are with three major paper companies – Andhra Paper Limited located in Rajahmundry, India; Nine Dragons Paper located in Beihai, China; and Zhejiang Zhefeng New Materials Company located in Quzhou, China – to build and operate on-site precipitated calcium carbonate (PCC) satellite plants. The combined volume equals more than 180,000 metric tons per year of PCC, and the sites are expected to be in operation in late 2023 and early 2024.
“MTI continues to drive growth in China and India as our newest technologies enable us to penetrate further into the paper market,” said Douglas T. Dietrich, Chairman and Chief Executive Officer. “These new partnerships demonstrate that MTI is the technology leader in paper and packaging filler technologies.”
D.J. Monagle III, Group President, Consumer & Specialties, commented further, “We are pleased to provide our unique technologies that deliver significant efficacy and sustainability benefits. Our new satellite plant in Rajahmundry represents the first deployment in India of our patented NewYield® LO PCC technology, a process which enhances the sustainability of a paper mill by repurposing a waste stream from the mill’s pulping process to produce PCC.”
In 1986, Minerals Technologies originated the satellite concept for making and delivering precipitated calcium carbonate (PCC) on-site at paper mills. Today, MTI has 53 satellite plants in operation or under construction globally and continues to lead the industry with consistent quality and technical innovation.
About Minerals Technologies Inc.
New York-based Minerals Technologies Inc. (MTI) is a leading, technology-driven specialty minerals company that develops, produces, and markets a broad range of mineral and mineral-based products, related systems, and services. MTI serves globally a wide range of consumer and industrial markets, including household, food and pharmaceutical, paper, packaging, automotive, construction, and environmental. The company reported global sales of $2.1 billion in 2022. For further information, please visit our website at www.mineralstech.com.
Investor Contact: Lydia Kopylova
(212) 878-1831
Media Contact: Jennifer Albert
(212) 878-1840
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