NEW YORK, NY, March 23, 2016-Minerals Technologies Inc. (NYSE: MTX) announced today that Minteq International Inc., a wholly owned subsidiary, has signed a long-term agreement with Big River Steel LLC for the supply of Minteq's metallurgical wire and wire injection equipment at Big River's new, greenfield steel mill in Osceola, Arkansas.
"We are extremely pleased to be chosen as the supplier of our value-added metallurgical wire products by such an innovative steel manufacturer as Big River Steel at its new Flex MillTM," said Chairman and Chief Executive Officer Joseph C. Muscari.
Under the terms of the agreement, Minteq will supply Big River with metallurgical wire and equipment for five years beginning in the third quarter of 2016. Combined with the state-of-the-art Compact Lance Unit (CLUTM), Big River will utilize injection of Minteq's PFERROCAL® solid-core calcium wire to ensure dispersion of calcium release and recovery in the molten steel.
Big River's quest is to produce grades of steel that historically have not been made by mini-mills, and Minerals Technologies' calcium injection process and alloy wire treatment program will help the steelmaker achieve its goal.
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 $1.798 billion in 2015.
Rick B. Honey