Minerals Technologies Inc. announces plan to exit talc business

2023-07-01

Jul. 1, 2023 - Minerals Technologies Inc. (“MTI” or “the Company”) announced on June 26 that its subsidiary, Barretts Minerals Inc. (“BMI”), will exit the talc business. This decision comes at the conclusion of a strategic review of the BMI business, including a thorough evaluation of its fit with the Company’s long-term priorities amidst the backdrop of a talc-related litigation environment. In 2022, BMI’s talc net sales were approximately $57 million and represented 2.7 percent of the Company’s consolidated revenue.

To facilitate this decision, BMI is now exploring structural alternatives, including a potential sale of talc assets, and has engaged Jefferies LLC to manage the divestment process. BMI has active mine sites and claims in Montana and manufacturing facilities in Montana and Texas. BMI sells premium quality talc primarily into automotive plastics, catalytic converters, polymeric films, and paints and coating markets. BMI intends to operate its current business in the ordinary course during this process and does not anticipate any disruption to its customers during this assessment and transition.