Company's 23rd Commercial Agreement for FulFill® Technology
NEW YORK, October 20, 2015-Minerals Technologies Inc., (NYSE: MTX) announced today that it has entered into a commercial agreement with another leading Asian papermaker to provide FulFill® E-325 higher filler technology.
"We are very pleased that this prestigious Asian papermaker, who wishes to remain unnamed for competitive reasons, is adopting our FulFill® E-325 technology," said Joseph C. Muscari, chairman and chief executive officer. "Our technology will allow this paper company to produce quality paper at lower cost by replacing higher-cost fiber with PCC."
Minerals Technologies now has 23 agreements with paper mills that have adopted the FulFill® technology that the company introduced in late 2010. The company has nine agreements with paper companies in Asia; eight in North America; five in Europe; and one in South America.
"These agreements confirm the commercial progress of the FulFill® brand," said W. Rand Mendez, senior vice president & managing director, Paper PCC. "MTI is also actively engaged with more than 10 other paper mills around the world that are interested in this technology."
PCC is a specialty pigment for filling and coating high-quality paper. By substituting PCC for more expensive wood fiber, papermakers 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 64 satellite plants in operation or under construction around the world and continues to lead the industry with consistent quality and technical innovation.
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/
Rick B. Honey