2013-09-19 16:17:01 -
NEW YORK, September 19--Minerals Technologies Inc. (NYSE: MTX) announced today
that its Board of Directors has authorized a $150 million share repurchase
program that it will execute over a two-year period. This authorization will
become effective when the current two-year $75 million program is completed in
October of this year.
"Our Board of Directors has indicated its confidence in the company's strategic
direction, high performance and cash-generating ability by authorizing a share
repurchase program that is twice as large as previous buyback programs," said
Robert S. Wetherbee, president and chief executive officer. "This larger program
is a continuation of the balanced approach to the use of our cash that we have
been taking to increase shareholder value."
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
Rick B. Honey
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Source: Minerals Technologies Inc via Thomson Reuters ONE