Minerals Technologies Inc. to Build a Satellite PCC Plant in India for ABC Paper Limited; MTI's Fifth Satellite Plant in India Since 2009
(Thomson Reuters ONE) -
NEW YORK, July 27-Minerals Technologies Inc. (NYSE: MTX) announced today that
its wholly owned subsidiary, Specialty Minerals Inc., has entered into an
agreement with ABC Paper Limited to build and operate a satellite precipitated
calcium carbonate (PCC) plant at ABC Paper's integrated pulp and paper mill at
Saila Khurd located in the northern India state of Punjab. ABC Paper Limited is
a Mumbai stock exchange-listed company controlled by the widely known and
respected Khaitan family. The company has more than 30 years of papermaking
history in India.
The satellite PCC plant, which will produce about 25,000 metric tons of PCC a
year and is expected to become operational in the third quarter of 2012, will be
wholly owned and operated by Specialty Minerals' Indian subsidiary, Minerals
Technologies India Private Ltd.
"We are very pleased to enter this partnership with ABC Paper Ltd., which is
recognized for its leadership in producing environmentally friendly printing and
writing papers," said Joe Muscari, chairman and chief executive officer.
"Minerals Technologies has seen its growth in India accelerate as consolidation
and expansion takes place and the valuations of Indian paper producers have
increased. This agreement marks our fifth satellite PCC plant in India, making
us the PCC leader in that country, and we believe that our new PCC-enabling
technologies like our Fulfill(TM) products will help create more value for our
new customers there."
ABC Paper is a leading producer of agro fiber-based printing and writing papers.
The company's pulp and paper mill began operations in 1980 after developing its
mill complex in a rural agricultural area. ABC paper's ongoing use of waste
agricultural grasses as the primary fiber source for its high-quality papers,
and production of a biopolymer lignin base from another onsite satellite
venture, places it in near the top of a category of environmentally conscious
paper producers.
ABC Paper Ltd. enjoys a strong customer base across India for of its range of
writing and printing papers. The paper company has its own distribution network
contributing to more than 90 percent of its sales, and these 80-plus
distributors across India give it one of the stronger distribution networks.
This customer service is coupled with known brands and differentiation based on
quality. Brands include ABC Gold, ABC Sapphire, Pearl White and Blue Diamond.
The recent introduction of PCC into the market is also strongly driving ABC to
improve its paper quality.
In 2010, ABC completed a multi-year expansion project that more than doubled its
papermaking output, with the high point being the startup of the new paper
machine 4.
PCC is a specialty pigment for filling and coating high-quality paper. By
making use of PCC as a replacement for more expensive pulp, customers like ABC
Paper are able to produce brighter, higher quality paper at lower cost. 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 North
American papermaking from an acid to an alkaline-based technology. Minerals
Technologies constructed its first PCC satellite plant in 1986. Today, the
company has 57 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 global 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 manages its resources, operations, capital,
and business opportunities in a sustainable manner. Total sales for the company
were $1 billion for 2010.
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For further information about Minerals Technologies Inc. look on the internet
athttp://www.mineralstech.com/
Contact: Rick B. Honey (212) 878-1831
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Minerals Technologies Inc via Thomson Reuters ONE
[HUG#1533996]
Unternehmensinformation / Kurzprofil:
Datum: 27.07.2011 - 17:30 Uhr
Sprache: Deutsch
News-ID 56768
Anzahl Zeichen: 4947
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Kategorie:
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