Minerals Technologies Announces Price Increase for Specialty Minerals Products in U.S.

Rhea-AI Summary

Minerals Technologies Inc. has announced a price increase on its mineral product portfolio, effective January 1, 2021. The increases, ranging from 3 to 10%, will vary based on individual customer contracts. This adjustment aims to offset rising operational costs and facilitate continued investments in mining and technology. Specific products include ground calcium carbonate, precipitated calcium carbonate, quicklime, and talc, with price hikes varying by product type.

Positive

• Price increases of 3-10% will help offset rising costs.
• Continued investments in mining and processing operations.
• Commitment to providing world-class products.

Negative

• None.

NEW YORK, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Specialty Minerals Inc. (SMI), a subsidiary of Minerals Technologies Inc. (NYSE: MTX) (“MTI” or “the Company”), has communicated to customers that it has increased prices across its mineral product portfolio, effective January 1, 2021. Price increases range from 3 to 10%, subject to individual customer contracts and terms. The price increases help to offset rising costs and will support SMI’s continued investments in mining, processing operations, and new product technology.

All ground calcium carbonate (GCC) products from Adams, MA and Lucerne Valley, CA, and all ground dolomitic limestone products from Canaan, CT will increase by 3-5% depending on the product line.

All precipitated calcium carbonate (PCC) products from Adams, MA will increase by 3%.

Quicklime produced at Adams, MA will increase by 3%.

Talc products produced at Barretts, MT and Bay City, TX will increase by 5-10% depending on the product line.

We remain committed to supplying our customers with world-class products at best-in-class value and service.

About Minerals Technologies Inc.
New York-based Minerals Technologies (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 $1.8 billion in 2019. For further information, please visit our website at www.mineralstech.com. (MTI-G)

Investor Contact: Erik Aldag, (212) 878-1831

Media Contact: Michael Landau, (212) 878-1840

FAQ

What is the effective date of Minerals Technologies Inc.'s price increase?

The price increase is effective January 1, 2021.

What is the range of the price increases for MTX products?

The price increases range from 3% to 10%, depending on individual product lines.

Which products are affected by the price increase at Minerals Technologies Inc.?

The affected products include ground calcium carbonate, precipitated calcium carbonate, quicklime, and talc.

What is the reason for the price increase announced by MTX?

The price increase is intended to offset rising operational costs.