Minerals Technologies Inc. Signs Agreement to Build a Satellite PCC Plant for Coated Packaging Paper in China with Zhejiang Zhengda Paper Group Co. Ltd.
Facility will Produce 50,000 Metric Tons per Year of Coating-Grade PCC at a Paper Mill in Zhejiang Province; MTI's First Dedicated Satellite Plant for Packaging Market
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NEW YORK, June 3, 2014-Minerals Technologies Inc. (NYSE: MTX) announced today that it has signed an agreement with the Zhejiang Zhengda Paper Group Co. Ltd. for a 50,000 metric ton per year satellite precipitated calcium carbonate (PCC) plant that will produce coating grade PCC for packaging in Zhejiang Province, China. The plant should be operational in the fourth quarter of 2015.
"This agreement with the Zhengda Paper Group is important in that it is Minerals Technologies' first on-site satellite plant to produce PCC for the coated packaging market," said Joseph C. Muscari, chairman and chief executive officer. "We are very pleased to be working with a high-caliber paper company like Zhengda Paper to help them reduce costs, upgrade quality, and improve the performance of its coated cartonboard in the market. We look forward to a long, mutually rewarding relationship with this fine company."
Minerals Technologies (MTI) will manufacture OPACARB® Coating PCC specifically tailored for the Chinese packaging market at the satellite plant. This will allow Zhengda Paper to reduce the use of other expensive raw materials such as imported clay, latex, optical brighteners and expensive finely ground GCC. The Zhengda paper mill in Fuyang City, Zhejiang Province, China, produces 600,000 metric tons per year of coated, bleached cartonboard for packaging.
About Minerals Technologies
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 $1.02 billion in 2013.
About Zhejiang Zhengda Paper Group Co. Ltd.
Zhengda Paper is owned by the privately held Zhejiang Zhengda Holding Group (Zhengda Holding), which is also the majority shareholder of four other companies in the paper manufacturing industry: Zhejiang Hongsheng Paper co Ltd, Fuyang City Wenbo Paper Industry Co Ltd, Fuyang Fangzheng Paper Industry Co Ltd, and Zhejiang Guangming Paper Industry Co Ltd.
For further information about Minerals Technologies Inc. look on the internet at http://www.mineralstech.com/
Contact:
Rick B. Honey
(212) 878-1831