Minerals Technologies to Buy Refractories Business of Martin Marietta Materials
February 23, 2001
MINTEQ International Inc., a wholly owned subsidiary of Minerals Technologies Inc., has signed an agreement to purchase the refractories business component of Martin Marietta Magnesia Specialties Inc., which is a wholly owned subsidiary of Martin Marietta Materials, Inc. of Raleigh, N.C. Terms of the agreement were not disclosed. Both MINTEQ International Inc. and Martin Marietta Magnesia Specialties Inc. are producers of monolithic refractory materials, which are used primarily in the steel industry to protect the interior of steel-making vessels from extremely high temperatures. The refractories business of Martin Marietta Magnesia Specialties Inc. recorded approximately $57 million in net sales in 2000. The refractories segment of Minerals Technologies Inc. reported 2000 net sales of approximately $185 million.
For additional information, call 1-888-MTX-NEWS (689-6397) or visit http://www.mineralstech.com.