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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): October 2, 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 8.01

  

Other Events.
   

On October 2, 2006 Minerals Technologies Inc. issued a press release announcing that its wholly owned subsidiary, Minteq International Inc., has completed the acquisition of ASMAS, an Istanbul-based Turkish producer of refractories. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
     

Item 9.01

 

Financial Statements and Exhibits.
   

(c)

Exhibits
   

99.1

Press Release dated October 2, 2006
   

   

 

 

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:  October 2, 2006

 

 

 

 

 

 

 

 

MINERALS TECHNOLOGIES INC.

 

EXHIBIT INDEX
     

Exhibit No.
__________

     

Subject Matter                                                       
____________________________________________________________
     

99.1

     

Press Release dated October 2, 2006

 

   

EXHIBIT 99.1

 
   

News

For Immediate Release
October 2, 2006

Contact:

Rick B. Honey
(212) 878-1831

 

MINERALS TECHNOLOGIES INC. COMPLETES ACQUISITION
OF TURKISH REFRACTORIES COMPANY

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NEW YORK, October 2—Minteq International Inc., a wholly owned subsidiary of Minerals Technologies Inc., today completed the acquisition of ASMAS, an Istanbul-based Turkish producer of refractories.

      The purchase price was approximately $30 million, with up to $5 million of additional consideration to be paid through 2009 based upon performance criteria through 2008. The company will operate in Turkey as ASMAS, a part of the Minteq family of companies, and key ASMAS management will be retained.

      Both Minteq International and ASMAS are producers of monolithic refractories, which are used primarily by the steel industry to protect the interior of steel-making vessels and molten-metal handling equipment from extremely high temperatures.

      ASMAS reported net sales of $20 million in 2005. The refractories segment of Minerals Technologies Inc. reported sales in 2005 of $328 million.

      "ASMAS has achieved rapid growth over the last four years and in addition to fitting well with our own refractories business, will provide an excellent platform for future growth," said Paul R. Saueracker, chairman, president and chief executive officer of Minerals Technologies. "We expect the acquisition will be accretive to earnings per share in 2007."

      Alain F. Bouruet-Aubertot, senior vice president and managing director of Minteq International Inc., said: "The acquisition of ASMAS offers an attractive option for Minteq to increase its ability to service the steel industries in Eastern Europe and the Middle East and is fully consistent with Minteq's strategy of direct investment into regions where the steel industry is expanding."

      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 on $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