Facility will Produce 50,000 Metric Tons per Year of Coating-Grade PCC at a Paper Mill in Zhejiang Province; MTI's First Dedicated Satellite Plant for Packaging Market
Minerals Technologies Inc. (NYSE: MTX) has announced that it has signed an agreement with the Zhejiang Zhengda Paper Group Co. Ltd. for a 50,000 metric ton per year satellite precipitated calcium carbonate (PCC) plant that will produce coating grade PCC for packaging in Zhejiang Province, China. The plant should be operational in the fourth quarter of 2015.
"This agreement with the Zhengda Paper Group is important in that it is Minerals Technologies' first on-site satellite plant to produce PCC for the coated packaging market," said Joseph C. Muscari, chairman and chief executive officer. "We are very pleased to be working with a high-caliber paper company like Zhengda Paper to help them reduce costs, upgrade quality, and improve the performance of its coated cartonboard in the market. We look forward to a long, mutually rewarding relationship with this fine company."
Minerals Technologies (MTI) will manufacture OPACARB® Coating PCC specifically tailored for the Chinese packaging market at the satellite plant. This will allow Zhengda Paper to reduce the use of other expensive raw materials such as imported clay, latex, optical brighteners and expensive finely ground GCC. The Zhengda paper mill in Fuyang City, Zhejiang Province, China, produces 600,000 metric tons per year of coated, bleached cartonboard for packaging.