Acquisition Extends MTI’s Core Pet Care Product Line into Europe
NEW YORK, May 01, 2018 (GLOBE NEWSWIRE) -- Minerals Technologies Inc. (NYSE:MTX) (“MTI” or “the Company”) today announced that it has closed the acquisition of Sivomatic Holding B.V. (“Sivomatic”), a leading supplier of premium pet litter products in Europe.
The acquisition was financed through a combination of cash on hand and MTI’s credit facilities.
Sivomatic’s results will be reported in the Household, Personal Care & Specialty Products division of MTI’s Performance Materials segment.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which describe or are based on current expectations. Actual results may differ materially from these expectations. In addition, any statements that are not historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this document should be evaluated together with the many uncertainties that affect our businesses, particularly those mentioned in the risk factors and other cautionary statements in our 2017 Annual Report on Form 10-K and in our other reports filed with the Securities and Exchange Commission.
About Minerals Technologies Inc.
New York-based Minerals Technologies Inc. (MTI) 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, construction, environmental, energy, polymer and consumer products industries. The company reported sales of $1.676 billion in 2017. For further information, please visit our website at www.mineralstech.com. (MTI-G)
About Sivomatic Holding B.V.
Sivomatic, a Minerals Technologies company, is a premier pet care producer in Europe with sales in 30 countries. With €73 million in sales in 2017, Sivomatic is the European market leader in the high-end, high quality cat litter segment. Sivomatic’s production facilities are highly automated and situated in efficient logistical locations in the Netherlands, Austria and Turkey. Headquartered in Moerdijk, Netherlands, Sivomatic is a leader in innovation and provides a high level of customer service and premium quality pet care products. Please visit Sivomatic’s website at www.sivomatic.nl.
Contact: Cindi Buckwalter
Source: Minerals Technologies Inc.