Minerals Technologies Files Bankruptcy Reorganization Plan

Minerals Technologies announced that, together with certain of its affiliates, it has filed a Plan of Reorganization in the Chapter 11 cases of its subsidiaries BMI OldCo and its affiliated debtors pending before the U.S. Bankruptcy Court for the Southern District of Texas. The Parent Plan would present a viable, efficient, and advantageous resolution of these Chapter 11 cases, providing claimants with significant recoveries while bringing the proceedings to an orderly and expeditious conclusion. Importantly, while the Parent Plan is a serious, good faith, and confirmable proposal, today's filing is a procedural step to satisfy a deadline imposed by the Bankruptcy Court. The broader dispute regarding these cases remains pending before the U.S. District Court for the Southern District of Texas, which on June 22, 2026 adopted the Bankruptcy Court's recommendation that the District Court determine the threshold issue of whether any talc sold by BMI OldCo contained sufficient quantity and form of asbestos to potentially cause asbestos-related diseases. The District Court proceedings are ongoing. MTI looks forward to a judicial forum to prove that the lawsuits against BMI OldCo are meritless and that all talc sold by BMI OldCo is and always has been safe. According to the Bankruptcy Court's recommendation to the District Court, the Chapter 11 process - including the Plan confirmation process - should be abated until the District Court makes a final determination on the central issue of these cases.