Release Details

Minerals Technologies Inc. Signs Agreement with United Steel Company (SULB) to Coordinate Refractory Operations for Greenfield Steel Mill in Bahrain

May 30, 2012

NEW YORK, May 30-Minerals Technologies Inc., (NYSE: MTX) announced today that ASMAS, a unit of Minteq International Inc., which is a wholly owned subsidiary of Minerals Technologies, has signed an agreement with United Steel Company B.S.C. (SULB) to perform all refractory maintenance at a greenfield steel mill in the Al-Hidd industrial area in Bahrain that is due to start up during the third quarter of 2012. Minteq, working with other refractory companies, will be responsible for coordinating refractory maintenance of the steel furnaces and the other steel production vessels.

"We are extremely pleased to work with a world-class company like SULB to provide refractory materials, service and equipment for steel-making and molten metal transport vessels at its new steel production facility in Bahrain," said Joseph C. Muscari, chairman and chief executive officer of Minerals Technologies Inc. 

Minteq will be responsible for coordinating refractory materials, manpower and equipment with Magnesita of Germany and Krosaki-Harima of Japan.

Han Schut, vice president & managing director of Minteq International, explained that this is the first time Minteq will be responsible for the full-service refractory maintenance of a complete steel mill, as well as Minteq's first such contract in the Middle East. "We look forward to a fruitful and long-lasting partnership that will increase SULB's productivity in the most economical way," he said.  

About SULB
United Steel Company (SULB) B.S.C. is a joint venture between Bahrain-based Gulf United Steel Holding Company (Foulath), the Middle East's leading steel investment and holding company, and Yamato Kogyo Co., Ltd of Japan, a leading global beams and structural sections producer. Foulath and Yamato Kogyo own 51 percent and 49 percent of SULB, respectively.

About Minerals Technologies
Minerals Technologies Inc. is a global 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. The company recorded sales of $1.04 billion in 2011.

Rick B. Honey
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