NEW YORK (News release) -- Minerals Technologies Inc. (NYSE: MTX) ("MTI" or "the Company") announced that it has signed an agreement with Century Pulp & Paper, Division of Century Textiles and Industries Limited, to install a 45,000 metric ton per year satellite precipitated calcium carbonate (PCC) plant at its paper mill in Lalkuan, District Nainital, India. The facility is scheduled to begin operation in the second quarter of 2020.
"We are very pleased that Century Pulp & Paper has selected Minerals Technologies to install and operate a satellite PCC plant that will provide our technology for their paper machine," said Douglas T. Dietrich, Chief Executive Officer. "We look forward to a long and mutually rewarding relationship with this excellent paper company."
D.J. Monagle III, Group President, Specialty Minerals and Refractories, commented further, "Century Pulp & Paper is an innovative paper company, and we are thrilled that they have confirmed the value of our PCC technology in their fine paper grades. Our PCC will be used as a paper filler to improve brightness, opacity, bulk and to reduce the cost to the papermaker of higher-cost fiber. This represents our sixth facility in India and continues our geographic growth in Asia."
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.