How one of the tiniest oil markets cost Trafigura over $1 billion
Last week, the company admitted it faces a loss in Mongolia of up to $1.1 billion, linked in part to suspected fraud by its own employees.
NEW YORK, January 22, 2014-Minerals Technologies Inc., (NYSE: MTX) announced today that it has signed a commercial agreement with a prestigious European paper company to provide Fulfill® E-325, a new, high-filler technology, at the paper company’s mill in Europe.
Minerals Technologies now has 15 agreements with paper mills that have adopted the Fulfill® E-325 technology that the company introduced in late 2010. This agreement with this papermaker is the company’s fourth in Europe.
These agreements confirm the commercial progress of the Fulfill® brand, a portfolio of high-filler technologies that offers papermakers a variety of efficient, flexible solutions that decreases dependency on natural fiber and reduces costs. The Fulfill® E-325 series allows papermakers to increase loading levels of precipitated calcium carbonate (PCC) by three to five points, which replaces higher cost pulp, and increases PCC usage between 20 to 30 percent.
“We are delighted that this highly respected European papermaker is adopting our new technology that will allow them to produce quality paper at lower cost,” said D.J. Monagle, senior vice president & managing director, Paper PCC. “The continued acceptance of our FulFill® E-325 technology in Europe reaffirms the revitalization of our new product pipeline, and of our commitment to advance our technology leadership throughout our satellite network around the world.”
PCC is a specialty pigment for filling and coating high-quality paper. By substituting Minerals Technologies’ PCC for more expensive wood fiber, customers are able to produce brighter, higher quality paper at lower cost. In 1986, Minerals Technologies originated the satellite concept for making and delivering PCC on-site at paper mills and the concept was a major factor in revolutionizing papermaking in North America. Today, the company has 58 satellite plants in operation or under construction around the world and continues to lead the industry with consistent quality and technical innovation.
Minerals Technologies Inc. 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. The company recorded sales of $1.01 billion in 2012.
For further information about Minerals Technologies Inc. look on the internet at http://www.mineralstech.com/
