Minerals Technologies Subsidiaries Barretts Minerals And Barretts Ventures Texas File For Bankruptcy
Portfolio Pulse from Shivani Kumaresan
Minerals Technologies Inc's subsidiaries, Barretts Minerals Inc and Barretts Ventures Texas LLC, have filed for Chapter 11 bankruptcy to address liabilities associated with talc. They plan to operate normally during the bankruptcy process and intend to sell talc assets to fund the case. The subsidiaries have received a $30 million debtor-in-possession financing from JMB Capital Partners Lending, LLC. No other subsidiaries of Minerals Technologies are included in the filing. MTX shares closed lower by 0.87% at $54.76 on Friday.
October 02, 2023 | 12:01 pm
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Minerals Technologies' subsidiaries have filed for bankruptcy, which could potentially impact the company's financial stability. However, the company has secured financing to continue operations and plans to sell assets to fund the bankruptcy case.
The bankruptcy filing of Minerals Technologies' subsidiaries could potentially impact the company's financial stability and reputation, which could negatively affect the stock price. However, the company has secured financing and plans to sell assets to fund the bankruptcy case, which could mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100