Minerals Technologies Inc. recently announced that Minteq International Inc., a wholly owned subsidiary, has instituted a surcharge for its magnesia-based refractory products. The surcharge, which is $26 per short ton, effective on all shipments on or after March 1, 2004, will be reviewed and adjusted as conditions allow. The company's productivity initiatives have been successful in partially offsetting manufacturing cost increases associated with the rising cost of energy, increases in ocean and domestic transportation costs, and increasing employee health care costs, as well as increases in raw materials such as magnesia. Minteq had previously absorbed these increases. However, the magnitude and outlook for continuing high prices for magnesia in 2004 make it necessary to implement a surcharge to partially offset the cost increases. Minteq will continue to negotiate with suppliers for the lowest possible crude costs to meet its customers' requirements.

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