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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM 8-K

CURRENT REPORT
Pursuant To Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 27, 2006

MINERALS TECHNOLOGIES INC.

(Exact name of registrant as specified in its charter)

Delaware

   

1-3295

   

25-1190717

(State or other jurisdiction
of incorporation)

  

(Commission File
Number)

  

(IRS Employer
Identification No.)

405 Lexington Avenue, New York, NY

                

10174-0002

(Address of principal executive offices)

  

(Zip Code)

(212) 878-1800

(Registrant's telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions.
 

[ ]

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 

[ ]

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 

[ ]

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 

[ ]

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))

 
 

 

 

     

Item 2.02

  

Results of Operations and Financial Condition.
   

On June 27, 2006 Minerals Technologies Inc. issued a press release announcing that its financial results for the second quarter of 2006 will be lower than expected. A copy of the press release is attached as Exhibit 99.1.

The information in this Item 2.02 and Exhibit 99.1 shall not be deemed filed for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01

  

Financial Statements and Exhibits.
     
   

(c)

Exhibits
     

99.1

Press Release dated June 27, 2006

 

 

 

 

 

 

 

 

 

 

 

2

 

SIGNATURES
 

      Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

                                          

                                         

MINERALS TECHNOLOGIES INC.

 

 

(Registrant)

 

 

 

 

 

 

 

 

 

  

By:

 /s/ Kirk G. Forrest

 

 

 

Name: Kirk G. Forrest

 

 

 

Title: Secretary

 

      

  Date:  June 28, 2006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

 

   

EXHIBIT 99.1

 
   

News

For Immediate Release
June 27, 2006

Contact:

Rick B. Honey
(212) 878-1831

 

MINERALS TECHNOLOGIES INC. INDICATES SECOND QUARTER
FINANCIAL RESULTS WILL BE LOWER THAN EXPECTED

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Company Cites Slower than Expected Project Ramp-ups; Delays in Equipment
Installations; Energy and Raw Material Costs; and Unfavorable Product Mix

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NEW YORK, June 27—Minerals Technologies Inc. (NYSE: MTX) today announced that its financial results for the second quarter of 2006 will be lower than expected. Second quarter earnings per share are expected to be slightly lower than the first quarter because the company is not experiencing the significant increase in operating earnings, which had been expected to begin during the quarter. The company attributed the shortfall to:

  • A slower than anticipated ramp-up for Synsil® Products for the glass industry as glass companies methodically adopt this novel technology into their existing processes

  • Delayed installations and commissioning of equipment in various steel markets around the world

  • The continued impact of higher energy and raw materials costs, which have only been partially recovered

  • An unfavorable product mix reflected by softness in various construction-related markets, primarily in the West

          "These factors have all contributed to a slower than anticipated growth in operating earnings for the second quarter of this year," said Paul R. Saueracker, chairman, president and chief executive officer. "The two largest impacts on profitability were Synsil® Products and the delayed equipment installation in the Refractories Segment. Regarding Synsil® Products, glass manufacturers continue to adopt its use but are being more deliberate than expected in incorporating it into their processes."

          Minerals Technologies Inc. is a global resource- and technology-based growth company that develops, produces and markets the highest quality performance-enhancing minerals and related products, systems and services. MTI serves the paper, steel, polymer and other manufacturing industries. The company reported sales of $995.8 million in 2005.

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        This press release contains some forward-looking statements, which describe or are based on the company's current expectations. Actual results may differ materially from these expectations. 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 cautionary statements of our 2005 Form 10-K and in our other reports filed with the Securities and Exchange Commission.

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For further information about Minerals Technologies Inc. look on the internet at http://www.mineralstech.com/