Restructuring to reduce costs

Restructuring to reduce costs

Keywords: Minerals Technologies

Minerals Technologies Inc. recently announced that, as part of its plan to control operating costs and to improve efficiency, it will reduce its workforce by approximately 120 full-time employees, or about 5 percent. This is said to be the first such system-wide workforce reduction since the company was established in 1992. The reduction spans the company's worldwide operations, with reductions coming from all subsidiaries and organizational levels.

"These have been difficult and painful decisions for our management since we believe all employees have contributed to our success," said Paul R. Saueracker, president and chief executive

The company also reports that it has acquired the refractories business of Martin Marietta Materials, Inc. Part of the restructuring is the recognition of synergies between Minerals Technologies' refractories business and the newly acquired operations from Martin Marietta Materials.

It is also announced by the company that its wholly owned subsidiary Specialty Minerals Inc. will invest $27 million for the construction of a new merchant facility in Germany for the production of coating grade precipitated calcium carbonate (PCC). This facility will produce sophisticated PCC coating products for use in high quality publication and graphic art papers.

The PCC merchant plant will be located in Walsum, Germany, which is in the vicinity of Duisburg, near Dusseldorf. Walsum is central to one of the world's largest concentrations of manufacturing for these types of high-quality papers. The plant will have access to highway, rail and water distribution networks to ensure timely and cost-effective delivery of the coating PCC products to surrounding customers.