Satellite Plant Will Be the Company's Fifth in China
NEW YORK, December 12-Minerals Technologies Inc. (NYSE: MTX) announced today it has signed an agreement with Henan Jianghe Paper Co., Ltd. for the construction of a 22,000-metric ton satellite precipitated calcium carbonate (PCC) plant at Jianghe Paper's papermaking facility in Jiaozuo City, Henan Province, China. Jianghe Paper, a privately owned paper company, is one of the largest carbonless and thermal papermakers in China with annual production of approximately 220,000 metric tons per year.
The satellite facility, which will produce PCC as a filler pigment for Jianghe Paper, will become operational in the first quarter of 2014.
"Minerals Technologies is very pleased to provide our PCC to a fine company like Jianghe Paper," said Joseph C. Muscari, chairman and chief executive officer. "This agreement, our second in China in the last two months, adds momentum to our geographic expansion strategy, and brings the number of satellite plants we have in China to five."
PCC is a specialty pigment for filling and coating high-quality paper. By substituting Minerals Technologies' PCC for more expensive wood fiber, customers are able to produce brighter, higher quality paper at lower cost. In 1986, Minerals Technologies originated the satellite concept for making and delivering PCC on-site at paper mills and the concept was a major factor in revolutionizing papermaking in North America. Today, the company has 59 satellite plants in operation or under construction around the world and continues to lead the industry with consistent quality and technical innovation.
Minerals Technologies Inc. is a resource- and technology-based growth company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. The company recorded sales of $1.04 billion in 2011.