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Minteq International Increases Prices on Monolithic Refractory Products.

NEW YORK -- Minteq International Inc., a wholly owned subsidiary of Minerals Technologies Inc., (NYSE: MTX) announced today that effective with shipments on or after September 1, 2007, or as permitted by current contracts, prices for its monolithic refractory products will increase 7 percent to 15 percent depending on grade. This price increase applies to all regions of the world where Minteq does business. Minteq's monolithic refractory products are used primarily in the steel industry for the repair and maintenance of steel-making furnaces.

The company's ongoing productivity initiatives have been successful in partially offsetting manufacturing cost increases associated primarily with raw material costs and rising ocean freight and domestic transportation costs. However, in 2007, prices for certain raw materials such as magnesia and alumina-based raw materials have increased to unprecedented levels. These raw material cost increases are primarily the result of recent changes in China's export policy, including elimination of tax rebates and subsidies, imposition of new taxes on exports and a reduction in the number of export licenses. Minteq will be monitoring the Chinese magnesia supply situation closely and may need to apply further price increases if magnesia prices continue to rise over the next several months.

Minteq, the premier supplier of engineered refractory lining systems, manufactures monolithic refractories for the iron, steel, non-ferrous metals, minerals processing and glass markets and metallurgical wire for the steel market. Combined with its application systems and measurement technology, Minteq products and systems help manufacturers increase productivity and lower overall costs.

Minerals Technologies Inc. is a global 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 on $1.06 billion in 2006.

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 2006 Annual Report on Form 10-K and in our other reports filed with the Securities and Exchange Commission.

For further information about Minerals Technologies Inc. look on the internet at
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Publication:Business Wire
Date:Jul 31, 2007
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