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NEW YORK, Oct 20, 2011 - (ACN Newswire) - Minerals Technologies Inc. (NYSE: MTX) announced today that its wholly owned subsidiary, Specialty Minerals Inc., has entered into an agreement with Bashundhara Paper Mills Limited to build and operate a satellite precipitated calcium carbonate (PCC) plant at Bashundhara's paper mill in Meghnaghat, Bangladesh.
The satellite PCC plant, which will produce about 30,000 metric tons of PCC a year and is expected to become operational in the first quarter of 2013, will be wholly owned and operated by Specialty Minerals Bangladesh Limited.
"We are very pleased to enter this agreement with Bashundhara Paper Mills Limited., and look forward to a long relationship with this papermaker. Minerals Technologies will help Bashundhara produce higher quality paper at a lower cost," said Joe Muscari, chairman and chief executive officer. "This satellite, which will bring our total in Asia to 13, is another indication of the success of our strategy to grow aggressively in emerging regions."
Bashundhara Paper Mills Limited, the leading papermaker in Bangladesh, is part of the Bashundhara Group, which also has enterprises in real estate, cement, steel, bottling and distribution. In addition to its operation at Meghnaghat, Bashundhara also has paper mills in Anapura, Songargon, and Narayangonj, Bangladesh.
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 Bashundhara Paper Limited 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 satellite PCC plant in 1986. Today, the company has 55 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. Total sales for the company were $1 billion for 2010.
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
Copyright (c) Thomson Reuters 2011. All rights reserved.
Topic: Press release summary
Source: Minerals Technologies Inc.
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From the Asia Corporate News Network
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