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Minerals Technologies acquires Polar Minerals

Published on 2002-09-30. Author : SpecialChem

 

Minerals Technologies Inc. announced that its wholly owned subsidiary, Barretts Minerals Inc., has acquired the business and assets of Polar Minerals Inc., a privately owned producer of industrial minerals in the Midwest United States. Polar Minerals operations will be incorporated into the company’s Specialty Minerals Segment. The purchase price was $22.5 million. Polar has mineral processing plants in Wellsville, Ohio, and Mount Vernon, Ind., These two plants process high quality mineral ores into performance minerals for the plastics, paint, adhesives and sealants, rubber and cosmetics industries. Polar’s products include talc, ground calcium carbonate, barytes and mica. Polar had sales in 2001 of $24.1 million. The company expects the acquisition to be accretive in the first 12 months.

For more information: contact Rick B. Honey at 212-878-1831


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