Release Details

NEW YORK, October 18--The Board of Directors of Minerals Technologies Inc. today elected Paul R. Saueracker chairman of the board, effective immediately. Mr. Saueracker, who has been president and chief executive of the company since January 1, 2001, will succeed Jean-Paul Vallès, Ph.D. Dr Vallès served as chairman and chief executive since Minerals Technologies became a publicly traded company in October 1992. On January 1, 2001 he retired as chief executive officer. The Board of Directors named Dr. Vallès chairman emeritus for his years of dedication to Minerals Technologies. He will remain a director of the company.

"It is a privilege and honor to be elected chairman of Minerals Technologies," said Mr. Saueracker. "Our businesses are fundamentally strong and we have excellent opportunities for growth. I look forward to leading that growth in the coming years."

John B. Curcio, chairman of the Board's Compensation and Nominating Committee, said: "There would have been no Minerals Technologies Inc. without Jean-Paul Vallès. He was the driving force behind the creation of the company, took it public and then led it through eight years of outstanding growth. The employees and shareholders owe him a debt of gratitude,"

"It has been a pleasure and honor to serve as chairman of the Board of Minerals Technologies," said Dr. Vallès.

Mr. Saueracker joined the company in 1971 in Los Angeles as a sales representative. In 1973, he moved to New York where he became a Market Research analyst and later, manager of Market Research. He assumed positions of increasing responsibility including director-Sales & Marketing, and, in 1989, vice president-Sales & Marketing. He was named president of Specialty Minerals Inc. in 1994, was appointed senior vice president of Minerals Technologies Inc. in October 1999, and was elected president of the company in August 2000. Mr. Saueracker became chief executive officer in January 2001.

Mr. Saueracker holds a BA in Geology from Hunter College of the City University of New York, an MS in Geology from the University of Kansas, and an MBA in Marketing from Hofstra University. Mr. Saueracker is past president of the Pulverized Minerals Division of the National Stone Association and a member of the Technical Association of the Pulp and Paper Industry and of the Paper Industry Management Association. He is also a member of the Board of Trustees of the Institute of Paper Science and Technology in Atlanta and the Board of Directors of the National Association of Manufacturers.

Jean-Paul Vallès, Ph.D., was elected chairman and chief executive officer of Minerals Technologies Inc. in 1992. Minerals Technologies Inc. became a publicly traded company through an initial public offering from Pfizer Inc on October 23, 1992.

Dr. Vallès joined Pfizer in 1968 as an economist and assistant to the chairman. In 1970, he was appointed director of Corporate Planning and Information Services, and, in 1972, was elected controller of the company. In 1980, he was elected to the Board of Directors of Pfizer Inc, a position he continues to hold. Dr. Vallès became vice president-Finance in June 1980 and was elected senior vice president-Finance in January 1989. In April 1989, he was given responsibility for Pfizer Specialty Minerals Group, the operations that comprise Minerals Technologies Inc. In August 1990, he was elected senior vice president and assumed the added responsibility for the company's Animal Health Group. He was elected executive vice president in February 1991 when he also became responsible for the Pfizer Specialty Chemicals Group. On January 1, 1992, Dr. Vallès was given the additional responsibility for the Pfizer Hospital Products Group and, on March 1, 1992, he was elected vice chairman of Pfizer Inc.

Born in Paris, France, Dr. Vallès received his bachelor's degree in mathematics in 1956 and was graduated from Ecole Superieure de Commerce de Paris in 1960. He earned his MBA from New York University in 1961 and his Ph.D. in 1967, also from NYU.

Dr. Vallès serves on the Board of Directors of Pfizer Inc and the Stern School Board of Overseers.

Minerals Technologies is a global resource- and technology-based company that develops and produces performance enhancing minerals and other products for the paper, steel, polymer and other manufacturing industries. For further information about Minerals Technologies Inc., call 1-888-MTX-NEWS (689-6397); or, look on the Internet at http://www.mineralstech.com/