This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Minerals Technologies To Build Another Satellite PCC Plant In India For Ballarpur Industries Limited

Minerals Technologies Inc. ( NYSE: MTX) announced today that its wholly owned subsidiary, Specialty Minerals Inc., has agreed to construct a satellite precipitated calcium carbonate (PCC) facility to supply Ballarpur Industries Limited’s (BILT) Sewa Unit at Gaganapur in the state of Orissa, India. The facility will initially produce 15,000 metric tons of PCC per year and supply the paper-filling needs of the Sewa paper mill. The facility will be owned and operated by the existing joint venture company, SMI NewQuest India Private Ltd., and, subject to completing various contractual and regulatory formalities, is expected to be in operation early in the first quarter of 2011. Minerals Technologies provides PCC to BILT’s Ballarshah Unit in the state of Maharashtra, India, and to its paper mill in Sipitang, Malaysia.

“We are very pleased that Minerals Technologies will provide PCC technology to a third BILT paper mill, which continues to affirm the value of our strategic relationship” said Joe Muscari, chairman and chief executive officer of Minerals Technologies. “The addition of this facility brings our total number of satellite PCC plants in the region to ten, and is integral to our Asia growth strategy for PCC. We look forward to building a long and mutually rewarding relationship with this excellent paper company.”

BILT, part of the $4 billion Avantha Group, is India's largest manufacturer and exporter of paper. BILT's total paper sales for the most recent year exceeded 700,000 metric tons.

PCC is a specialty pigment for filling and coating high-quality paper. By substituting PCC for more expensive wood fiber, customers like BILT are able to produce brighter, higher quality paper at lower cost. Minerals Technologies originated the satellite concept for making and delivering PCC on-site at paper mills and the concept was a major factor in revolutionizing North American papermaking from an acid to an alkaline-based technology. Minerals Technologies constructed its first PCC satellite plant in 1986. Today, the company has 51 satellite plants in operation or under construction around the world and continues to lead the industry with consistent quality and technical innovation.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
MTX $69.37 -1.62%
AAPL $130.28 0.47%
FB $81.53 -1.07%
GOOG $565.06 3.30%
TSLA $218.42 -0.08%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs