Minerals Technologies falls after units file for bankruptcy

Minerals Technologies

02/10/2023 15:20

** Shares of Minerals Technologies  MTX.N  fall 1.6% to
$53.91
    ** The specialty minerals co says units Barretts Minerals
(BMI) and Barretts Ventures Texas filed for Chapter 11
bankruptcy protection
    ** No other subsidiaries or business units of MTI are
included in the filing and, as such, all are operating business
as usual and will continue to do so during and after the Chapter
11 process
    ** BMI intends to pursue a sale of its talc assets and
proceeds will be used to fund the Chapter 11 case and an
anticipated section trust
    ** MTX stock down 10.4% so far this year

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94
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