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NEW YORK, Sept 16, 2015 - (ACN Newswire) - Minerals Technologies Inc. (NYSE: MTX) announced today that its Board of Directors has authorized a new, two-year $150 million share repurchase program. This authorization will become effective when the current two-year $150 million program expires 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 this $150 million share repurchase program," said Joseph C. Muscari, chairman and chief executive officer. "We will continue to focus primarily on debt reduction, but will repurchase shares, as we deem appropriate, using a balanced, value-based approach to the use of our cash."
New York-based 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. MTI serves the paper, foundry, steel, environmental, energy, polymer and consumer products industries. The company reported sales of $1.725 billion in 2014.
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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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Minerals Technologies Inc via Globenewswire
Topic: Press release summary
Source: Minerals Technologies Inc.
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