This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Minerals Technologies To Build A Satellite PCC Plant In India For JK Paper Limited

Minerals Technologies Inc. ( NYSE: MTX) announced today that its wholly owned subsidiary, Specialty Minerals Inc., has entered into an agreement with JK Paper Limited (JK Paper) to construct a satellite precipitated calcium carbonate (PCC) facility at JK Paper’s largest pulp and paper mill located near Rayagada in the state of Odisha, India. JK Paper is a part of the JK Group, one of the leading business brands in India, with a significant presence in automotive tires and tubes, cement, and the paper and pulp brand segments, among others.

“Minerals Technologies is very excited about this project with JK Paper and the growth we see in the Indian paper market,” said Joseph C. Muscari, chairman and chief executive officer of Minerals Technologies. “We are confident that our existing and new PCC-enabling technologies will create significant value for our new customer and partner. We are also very pleased to have been chosen by JK Paper to participate in the largest expansion in that company’s history. This satellite will be our fourth in India in a relatively short period of time, and once on line it will bring our total in the Asia region to 12. This agreement is part of our strategy to expand our Paper PCC business geographically and to introduce our new PCC products globally as they are launched from our rejuvenated new product development pipeline.”

With fiscal 2010 net sales of $248.64 million, JK Paper is a leading producer of branded printing and writing and copy paper in India and has embarked on a $360.92 million expansion and modernization plan for the Rayagada mill. Over the next several years, JK Paper intends to install a 165,000 ton-per-year paper machine along with a new pulp mill and boiler. The Specialty Minerals plant will support the mill by expecting to produce more than 46,000 metric tons per year of PCC. The satellite facility will be owned and operated as a joint venture and will be operational prior to JK Paper’s new paper machine coming on stream.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs