NEW YORK, NY, September 17, 2014-Minerals Technologies Inc. (NYSE: MTX) announced today that Minteq UK Ltd., a wholly owned subsidiary, has signed an agreement with Tata Steel Europe for the Cost per Tundish Maintenance of its continuous casting, tundish maintenance program at the Scunthorpe site in the United Kingdom.
Tata Steel Europe is part of the Indian-based Tata Steel, and is the second largest steel producer in Europe with integrated steel manufacturing sites in Scunthorpe and Port Talbot in the UK and IJmuiden in the Netherlands.
The Tata Steel Scunthorpe site has a steel production capacity of 4.5 million metric tons of finished products per year. The plant includes four blast furnaces, one basic oxygen furnace (BOF) shop with three BOFs and four continuous casters for long and flat products along with the respective finishing (rolling) mills.
Tata Steel in Scunthorpe has extended Minteq's Full Service Refractory Maintenance expertise from the current steel refining areas (Basic Oxygen Furnace, RH Degasser and Steel Ladles) into the continuous casting, tundish maintenance area. This new two-year contract includes the installation of refractory linings on a guaranteed "Cost per Tundish" basis. This agreement will cover all caster shops within the Scunthorpe facility and will include the supply of refractory products, installation equipment, steel mill services and refractory supervision in partnership with the Tata Steel Scunthorpe Caster Management Team.
The Cost per Tundish Program is a key development that will further expand Minteq's global footprint for guaranteed refractory cost savings.
Minteq currently provides refractory products and services to the Tata Steel plants in the UK, the Netherlands and India.
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.
Rick B. Honey