Minerals Technologies Updates Fourth Quarter Outlook
January 20, 2003
Minerals Technologies Inc. recently announced that its fourth quarter earnings will be affected negatively by a decline in the performance of its refractories segment, as well as by the bankruptcy filing of one of its precipitated calcium carbonate (PCC) customers. "For the first two months of the quarter our earnings were on track," said Paul R. Saueracker, chairman, president and chief executive officer. "In December, however, the profitability of our refractories segment declined precipitously. Refractories sales fell drastically in Europe due to downtime taken by steelmakers, and although sales in North America increased, the product mix resulted in lower margins." Minerals Technologies will release its fourth quarter 2002 earnings on January 23 and will host a conference call at 11 a.m. on January 24.
For additional information, visit http://www.mineralstech.com .