For Immediate Release
Contact:  Cindi Buckwalter
May 3, 2018
(212) 878-1831

Sales Increase 6 Percent to $431.3 Million
Growth Across All Segments and Regions
Earnings Per Share, Excluding Acquisition-Related Costs, Up 6 Percent
Acquisition of Sivomatic; Revenue of €73 million in 2017; Accretive in 2018

NEW YORK, May 3—Minerals Technologies Inc. (NYSE: MTX) ("MTI" or "the Company") today reported diluted earnings per share of $1.13, excluding acquisition-related costs, for the first quarter ended April 1, 2018, compared with earnings per share of $1.07 in the prior year.  Reported diluted earnings per share were $1.12, an increase of 15 percent compared with $0.97 in the prior year.

"The Company had a solid first quarter. We saw sales growth in all four of our segments and across all geographies," said Douglas T. Dietrich, Chief Executive Officer. "In addition, we continued to make progress on our organic growth initiatives, and recently completed the acquisition of Sivomatic which doubles the size of our pet litter business."

Worldwide net sales increased 6 percent to $431.3 million. Foreign exchange had a favorable impact on sales of approximately $18 million. Operating income, as reported, was $62.6 million and represented 14.5 percent of sales. Operating income, excluding acquisition-related costs, was $63.0 million and represented 14.6 percent of sales.

Segment Information

Performance Materials and Specialty Minerals
Sales in the Minerals businesses, which include the Performance Materials and Specialty Minerals segments, grew 7 percent in the first quarter to $336.9 million.  Operating income for the Minerals businesses was $50.3 million and operating margins represented 14.9 percent of sales.

Performance Materials segment sales increased 10 percent to $187.3 million. Metalcasting sales rose 19 percent on higher demand in all regions. Household, Personal Care & Specialty Products increased 18 percent driven by higher pet care revenue and increased European fabric care sales. Environmental Products sales rose 20 percent on higher volumes in the U.S., and Building Materials sales increased 9 percent due to several large projects in the U.S.  These sales increases were partially offset by 19 percent lower Basic Minerals sales due to the planned exit of bulk chromite operations in South Africa. Operating income decreased $2.6 million to $26.2 million, primarily due to the decline in profits of bulk chromite of approximately $7 million. Double-digit operating income growth in Metalcasting and Household, Personal Care & Specialty Products partially offset this impact.  The Performance Materials segment provides a wide range of bentonite-based and synthetic materials for industrial and consumer markets and for non-residential construction, environmental remediation and infrastructure projects worldwide.

Specialty Minerals segment sales, which consist of the Precipitated Calcium Carbonate (PCC) and Processed Minerals product lines, increased 2 percent to $149.6 million. Operating income decreased 1 percent to $24.1 million and represented 16.1 percent of sales. Paper PCC had a strong operational quarter while margins in the Processed Minerals product line were lower due to higher energy and manufacturing costs.

Worldwide sales of Paper PCC, which is used mainly in the manufacturing processes of the paper industry, increased 4 percent to $97.0 million. Higher sales in Asia, Europe and Latin America were partially offset by reduced sales in North America.

Sales of Processed Minerals products decreased 1 percent to $35.6 million. Ground Calcium Carbonate sales growth of 5 percent, driven by higher volumes in the construction market, was offset by an 8 percent decrease in Talc sales. Processed Minerals products are used in the building materials, polymers, ceramics, consumer products, paints and coatings, glass and other manufacturing industries.

Refractories and Energy Services
Sales of $94.4 million in the Service businesses, which include the Refractories and Energy Services segments, were 6 percent higher than the same period last year. Operating income for the Service businesses, excluding special items, increased 28 percent to $14.3 million and represented 15.1 percent of sales.

Refractories segment sales increased 7 percent to $75.3 million, driven by higher sales of refractory products. The Refractories segment operating income increased 39 percent to $12.8 million and was 17.0 percent of sales, a record level. The Refractories segment provides products and services primarily to the worldwide steel industry.

Energy Services segment sales increased 2 percent to $19.1 million, primarily driven by higher filtration activity. Operating income was $1.5 million and represented 7.9 percent of sales. Energy Services offers a range of patented technologies, products and services for off-shore filtration and well testing to the worldwide oil and gas industry.

Acquisition of Sivomatic Holding B.V. ("Sivomatic")
On April 30, 2018, MTI completed the acquisition of Sivomatic, a leading European supplier of premium pet litter products. Sivomatic is a vertically integrated manufacturer, with production facilities in the Netherlands, Austria and Turkey. With a leading position in premier clumping products, their product portfolio spans the range of pet litter derived from bentonite, sourced predominantly from wholly-owned mines in Turkey. Sivomatic has approximately 115 employees and generated revenue of €73 million in 2017.

The acquisition was financed through a combination of cash on hand and the Company's credit facilities, and is expected to be accretive to Minerals Technologies in 2018.

"We're pleased to have completed the acquisition of Sivomatic, which extends one of our core minerals-based product lines into Europe and positions us well for continued profitable growth in the pet care business," said Mr. Dietrich. "We look forward to working with Sivomatic's employees on a seamless integration and continuing to deliver value to our retail partners."
Minerals Technologies will host a conference call tomorrow, May 4, 2018 at 11 a.m. Eastern Time. The conference call will be broadcast live on our website: www.mineralstech.com.

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which describe or are based on current expectations. Actual results may differ materially from these expectations. In addition, any statements that are not historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this document should be evaluated together with the many uncertainties that affect our businesses, particularly those mentioned in the risk factors and other cautionary statements in our 2017 Annual Report on Form 10-K and in our other reports filed with the Securities and Exchange Commission.

About Minerals Technologies Inc.
New York-based Minerals Technologies Inc. (MTI) is a resource- and technology-based growth company that develops, produces and markets worldwide 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 $1.676 billion in 2017. For further information, please visit our website at www.mineralstech.com. (MTI-E)


The following information was filed by Minerals Technologies Inc (MTX) on Thursday, May 3, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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