Minerals Technologies To Acquire Sivomatic - Quick Facts

(RTTNews) - Minerals Technologies Inc. (MTX) announced a definitive agreement with the shareholders of Sivomatic under which MTI will purchase all of the shares of Sivomatic. Sivomatic is a vertically integrated manufacturer of premium cat litter in Europe, with production facilities in the Netherlands, Austria and Turkey.

Minerals Technologies said the acquisition will be financed through a combination of cash on hand and MTI's current credit facilities, and is anticipated to close in the second quarter of 2018. The purchase of Sivomatic is expected to be immediately accretive to Minerals Technologies.

Sivomatic has approximately 115 employees and generated revenue of 73 million euros in 2017. The product portfolio spans the range of pet litter derived from bentonite, sourced predominantly from wholly-owned mines in Turkey.