For Immediate Release
Contact:  Cindi Buckwalter
August 2, 2018
(212) 878-1831

Sales Increase 12 Percent to $464.7 Million
Growth Across All Segments and Regions; Asia Sales Up 16 Percent
Completed Acquisition of Sivomatic; Integration Tracking Well
Productivity Improvement of 7 Percent
Signed Agreement for New 150,000 Ton PCC Satellite Plant in China

NEW YORK, August 2—Minerals Technologies Inc. (NYSE: MTX) ("MTI" or "the Company") today reported diluted earnings per share of $1.28, excluding special items, for the second quarter ended July 1, 2018, compared with earnings per share of $1.23 in the prior year.  Reported diluted earnings per share were $1.24 compared with $1.21 in the prior year.

"The second quarter was very productive for MTI. The Company continued to build on the sales growth momentum of the past three quarters, with significant growth across all of our businesses. We expanded our pet litter business in Europe with the acquisition of Sivomatic and signed a new 150,000 ton PCC satellite in China," said Douglas T. Dietrich, Chief Executive Officer. "We continued to deliver strong productivity; however, inflationary cost increases are impacting profitability in the near term. We expect margins to improve through contractual and other price increases over the remainder of the year."

Worldwide net sales increased 12 percent to $464.7 million. Foreign exchange had a favorable impact on sales of approximately $9 million. Operating income, as reported, was $62.8 million and represented 13.5 percent of sales. Operating income, excluding special items, was $64.7 million and represented 13.9 percent of sales.

MTI's second quarter results include $14.1 million of sales from Sivomatic Holding B.V. ("Sivomatic"), a vertically integrated supplier of premium pet litter products in Europe, which the Company acquired on April 30, 2018. The special items incurred in the second quarter related to the acquisition were transaction and integration costs of $1.0 million and non-cash inventory step-up charges of $0.5 million.
Segment Information

Performance Materials and Specialty Minerals
Sales in the Minerals businesses, which include the Performance Materials and Specialty Minerals segments, grew 12 percent in the second quarter to $365.4 million.  Operating income for the Minerals businesses was $54.7 million and represented 15.0 percent of sales. Operating income, excluding special items, was $55.2 million and represented 15.1 percent of sales.

Performance Materials segment sales increased 19 percent to $214.5 million. Metalcasting sales rose 17 percent due to higher demand in all regions. Household, Personal Care & Specialty Products sales increased 48 percent, primarily driven by higher pet care revenue, including the acquisition of Sivomatic, and increased European fabric care sales. Environmental Products sales rose 29 percent due to several large projects. These sales increases were partially offset by 11 percent lower sales in Building Materials, primarily due to the difference in magnitude of waterproofing projects compared to the prior year, and a reduction in Basic Minerals sales. Operating income, excluding special items, decreased to $30.1 million, primarily due to higher raw material, logistics and energy costs. In addition, we incurred higher mining costs due to weather-related challenges at our mines in the western United States.  These impacts were partially offset by increased selling prices and higher volume.  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 3 percent to $150.9 million. Operating income decreased to $25.1 million and represented 16.6 percent of sales. Operating income for the segment was lower than the prior year due primarily to higher raw material, logistics and energy costs, and due to the timing of contractual selling price increases in PCC and other implemented price increases that will take effect in the second half of 2018.

Worldwide sales of PCC, which is used mainly in the manufacturing processes of the paper industry, increased 2 percent to $111.8 million. Higher sales in Asia and Europe were partially offset by reduced sales in North America and Latin America.

The Company recently announced an agreement with Shouguang Meilun Paper Co., Ltd., a wholly owned subsidiary of Shandong Chenming Paper Holdings Ltd. ("Chenming Paper") to build a new 150,000 metric ton per year satellite PCC plant at its paper mill in Shouguang, Shandong Province, China, which is scheduled to begin operation in the second half of 2019. This will be MTI's ninth satellite in China. Including this facility, the Company will be installing approximately 400,000 tons of PCC capacity in Asia over the next eighteen months.

Sales of Processed Minerals products increased 5 percent to $39.1 million. Ground Calcium Carbonate sales grew 8 percent, driven by higher volumes in the construction market. 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 in the Service businesses, which include the Refractories and Energy Services segments, grew 14 percent in the second quarter to $99.3 million. Operating income for the Service businesses was $11.0 million, and represented 11.1 percent of sales. Operating income, excluding special items, was $11.4 million and represented 11.5 percent of sales.

Refractories segment sales increased 16 percent to $79.6 million, driven by higher sales of refractory products. The Refractories segment operating income decreased to $10.3 million and was 12.9 percent of sales, primarily due to increased raw material costs which were partially offset by higher prices and volume. The Refractories segment provides products and services primarily to the worldwide steel industry.

Energy Services segment sales increased 10 percent to $19.7 million, primarily driven by higher filtration activity. Operating income, excluding special items, increased to $1.1 million and was 5.6 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.

Minerals Technologies will host a conference call tomorrow, August 3, 2018 at 11 a.m. Eastern Time. The conference call will be broadcast live on our website: www.mineralstech.com. To listen to the call, go to the website and click on "Investor Relations," then click on "Presentations & Conference Calls." A presentation for the call will be available at the same location at approximately 10:30 a.m. Eastern Time on August 3, 2018.

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.

The following information was filed by Minerals Technologies Inc (MTX) on Thursday, August 2, 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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