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NEW YORK, Sept 20, 2013 - (ACN Newswire) - Minerals Technologies Inc. (NYSE: MTX) announced today that its Board of Directors has authorized a $150 million share repurchase program that it will execute over a two-year period. This authorization will become effective when the current two-year $75 million program is completed in October of this year.
"Our Board of Directors has indicated its confidence in the company's strategic direction, high performance and cash-generating ability by authorizing a share repurchase program that is twice as large as previous buyback programs," said Robert S. Wetherbee, president and chief executive officer. "This larger program is a continuation of the balanced approach to the use of our cash that we have been taking to increase shareholder value."
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 $1.01 billion in 2012.
For further information about Minerals Technologies Inc. look on the internet at http://www.mineralstech.com/
Contact:
Rick B. Honey
+1-212-878-1831
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Source: Minerals Technologies Inc via Thomson Reuters ONE
Topic: Press release summary
Source: Minerals Technologies Inc.
https://www.acnnewswire.com
From the Asia Corporate News Network
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