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PFIZER COMPLETES SALE OF MAJORITY OF MINERALS TECHNOLOGIES INC. STOCK

PFIZER COMPLETES SALE OF MAJORITY OF MINERALS TECHNOLOGIES INC. STOCK
 NEW YORK, Oct. 30 /PRNewswire/ -- Pfizer Inc (NYSE: PFE) announced today that it has completed the sale of the majority of the common stock of Minerals Technologies Inc. (NYSE: MTX) in an underwritten public offering. Pfizer sold approximately 15 million shares at a per share offering price of $16 and Pfizer continues to own about 40 percent of the outstanding common stock.
 William C. Steere, Jr., Pfizer chairman and chief executive officer and a Minerals Technologies board member, said: "The contribution of Minerals Technologies and its employees and the industries it serves has been remarkable. We wish Minerals Technologies and all of its employees continued success."
 Mr. Steere said that for the first nine months of 1992 Minerals Technologies contributed about $0.06 a share to Pfizer's earnings per share. Pfizer does not expect the initial public offering to have a material effect on its 1992 earnings.
 Pfizer Inc is a research-based, diversified health care company with global operations. The company reported sales of approximately $6.95 billion for 1991.
 -0- 10/30/92
 /CONTACT: A. A. Biesada, 212-573-2055, or Rick Honey, 212-573-2051, both of Pfizer/
 (PFE MTX) CO: Pfizer Inc; Minerals Technologies Inc. ST: New York IN: MNG SU:


AH -- NY071 -- 7174 10/30/92 14:03 EST
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Publication:PR Newswire
Date:Oct 30, 1992
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