Minerals Technologies Signs Agreement with Baiyun Paper to Construct a 50,000 Metric Ton Per Year Satellite PCC Plant in China
NEW YORK, April 19, 2021 (GLOBE NEWSWIRE) -- Minerals Technologies Inc. (NYSE: MTX) (“MTI” or “the Company”) announced today that it has signed an agreement with Zhumadianshi Baiyun Paper Co., LTD (“Baiyun Paper”) to build a 50,000 metric ton per year satellite precipitated calcium carbonate (“PCC”) plant at its paper mill in Suiping County, Zhumadian City, Henan Province, China. The facility will be wholly owned by MTI. The new facility is scheduled to begin operations in the first half of 2022.“We are very pleased that Baiyun Paper has selected Minerals Technologies as its partner to deploy our PCC technology at their paper mill in Zhumadian,” said Douglas T. Dietrich, Chairman and Chief Executive Officer. “This will be our tenth satellite in China, one of the fastest growing regions for our PCC technology, and continues our geographic growth in Asia.”
D.J. Monagle III, Group President, Specialty Minerals and Refractories, commented further, “Baiyun Paper is well known for their strong management team and sustainable operating practices. This agreement demonstrates the value that MTI’s PCC technology provides papermakers as it will be used as a functional filler additive to improve brightness, opacity and bulk properties, and to reduce costs by replacing wood fiber. We look forward to a long and mutually rewarding relationship with this excellent paper company and to growing our business in the beautiful and historic Henan Province.”
PCC is a specialty pigment for filling and coating high-quality paper. By substituting Minerals Technologies' PCC for more expensive wood fiber, customers are able to produce brighter, higher quality paper at lower cost. In 1986, 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 papermaking in North America. Today, MTI has nearly 60 satellite plants in operation or under construction around the world and continues to lead the industry with consistent quality and technical innovation.
*About Minerals Technologies Inc.*
New York-based Minerals Technologies Inc. (MTI) is a global resource- and technology-based company that develops, produces and markets a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. MTI serves the paper, foundry, steel, construction, environmental, energy, polymer and consumer products industries. The company reported sales of $1.6 billion in 2020. For further information, please visit our website at www.mineralstech.com. (MTI-G)
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