Satellite Plant Will Be the Company's Sixth in China; Agreement includes Application of FulFill® E-325 Technology
Minerals Technologies Inc. (NYSE: MTX) has announced that it has entered into a joint venture agreement with Nanning Jindaxing Paper Industry Co. Ltd. for the construction of a 45,000-metric ton satellite precipitated calcium carbonate (PCC) plant at Jindaxing Paper's papermaking facility in Guangxi Province, China. Jindaxing Paper, a privately owned paper company, is a producer of uncoated freesheet paper with an emerging presence on the office paper markets.
The satellite facility, which will produce PCC as a filler pigment for Jindaxing Paper will become operational in the fourth quarter of 2014.
"We are pleased to provide our PCC to an emerging paper company like Jindaxing Paper," said Robert S. Wetherbee, chief executive officer. "This agreement, our third in China within the last year, confirms the momentum of our geographic expansion strategy, and brings the number of satellite plants we have in China to six. It should also be noted that Minerals Technologies' cost-saving, FulFill® high-filler technology was a differentiator in obtaining the contract with Jindaxing Paper, and represents our commitment to bring our best technology to all our customers as soon as possible."
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, the company has 59 satellite plants in operation or under construction around the world and continues to lead the industry with consistent quality and technical innovation.
Minerals Technologies Inc. is a 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 of $1.01 billion in 2012.