Minerals Technologies Inc. CEO Jean-Paul Valles talks to The Wall Street Transcript

Business Wire, June 4, 1999

NEW YORK --(BUSINESS WIRE)--June 4, 1999--

The Wall Street Transcript has published an in-depth interview with Jean-Paul Valles of Minerals Technologies, Inc. (NYSE:MTX), in which he talks at length about his company's future.

He says, "Basically, we are a resource- and technology-based company. We develop performance-enhancing minerals, mineral based and synthetic mineral products for the paper, steel, and polymer industries on a worldwide basis. We were created as a spin-off from Pfizer Inc. in 1992. After the initial public offering and a secondary offering in the spring of 1993, Pfizer divested its entire ownership in MTI. Our vision is, and continues to be, that Minerals Technologies is a growth company. In the last nearly seven years we have attained that objective by growing net income at approximately 15 percent compounded annually. We operate in two segments: Specialty Minerals and Refractories."

He asserts, "I cannot overstate that research is the foundation of Minerals Technologies growth. We are a research driven company. Our technology has allowed us to take approximately 80% of the U.S. PCC market."

Looking forward, he states, "Our vision has been to grow diluted earnings per share at a compound rate of 15% per annum. I'm very happy to report that since we went public we have achieved that despite the ups and downs of the various industries we serve. One of the important reasons is that our satellite PCC operation, our biggest business, has contracts that protect MTI from the business cycle. And usually these agreements are 10-year contracts. So we have succeeded in making this company basically quite non-cyclical even though we serve very cyclical, industries."

To read the complete interview, go to http://www.twst.com/ceos.htm. The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations. Read hundreds of free excerpts from our Q&A Interviews of analysts from top brokerage houses, money managers and CEOs at http://www.twst.com.

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