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NEW YORK, Oct 27, 2011 - (ACN Newswire) - Minerals Technologies Inc., (NYSE: MTX) announced today that it has entered into a joint venture agreement with Double A (1991) Public Company Ltd. to build a second satellite precipitated calcium carbonate (PCC) plant at a paper mill owned by Double A in Tha Toom, Thailand. This new satellite plant, which will be operated by Double A Specialty Minerals Company Ltd., will produce approximately 80,000 metric tons of PCC a year and will become operational in the third quarter of 2012. Minerals Technologies recently completed an expansion at its existing satellite plant at the Tha Toom mill, increasing capacity 50,000 metric tons to 70,000 metric tons.
"Our relationship with this prestigious papermaker, which goes back to 1996, is further strengthened by this joint venture," said Joseph C. Muscari, chairman and chief executive officer. "The agreement, which will bring the number of satellite PCC plants in Asia to 14, demonstrates the success of our efforts to expand our Paper PCC technology to this growing region."
"Double A exports its 'Double A Quality' premium copy paper to more than 100 countries and is a world leader in environmentally friendly pulp and paper production based on the development of its Farmed Trees concept. Up to 1 million Thai farm families plant fast growing eucalyptus trees in previously unused space between rice patties and tapioca fields to increase their income and provide a sustainable fiber source for Double A. The new PCC plant will support the addition of a third paper machine to the Tha Toom paper mill," said D.J. Monagle, senior vice president and managing director, Paper PCC. "We are very pleased to further our long time partnership with this environmentally focused brand leader."
PCC is a specialty pigment for filling and coating high-quality paper. By substituting PCC for more expensive wood fiber, customers like Double A 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 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. The company recorded sales of $1.0 billion in 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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