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This is a transformational acquisition for MTI. We will be able to significantly advance our position as a U.S.-based global leader in industrial minerals by doubling our sales to $2 billion; we will also be able to accelerate our growth and create significant additional shareholder value. Within a few years, you’ll see an MTI with an even more diverse set of value-added and innovative products and solutions across an even wider number of growing markets throughout the world. We are all very much looking forward to starting this next phase of our growth and development and on keeping you updated on our progress. 

AMCOL is the world’s leading producer of bentonite, an exceptionally versatile mineral with multiple applications in worldwide markets. The combination will give MTI worldwide leadership positions in both precipitated calcium carbonate (PCC), a position we have held for many years, and 

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## THE COMBINATION 

will give MTI worldwide leadership positions in both precipitated calcium carbonate (PCC), a position we have held for many years, and bentonite. 

bentonite. More importantly, we will create a robust, highly competitive platform from which to extend our already successful core strategies of geographic expansion and new product innovation. A closer look at AMCOL’s capabilities, products, and market presence demonstrates that potential. AMCOL provides technologically differentiated products to the energy, environmental and consumer markets. This enables us to diversify our product portfolio while maintaining our differentiated minerals base, and allowing us entry into new growth markets. 

I’m particularly enthusiastic about the potential value we can create by combining our respective core competencies in mineralogy, fine particle technology, surface treatments and innovative approaches to solving customer problems. You already know the story of how MTI has deployed our own research and development capabilities 

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to create exciting, new industry-defining products driven by customer needs. By combining with AMCOL, we’ll be able to create a new generation of value-added products for our customers, helping them become even more competitive in the global marketplace. 

We expect the acquisition to be immediately highly accretive, excluding transaction costs. Importantly, we have identified a significant set of synergies, short, medium, and longer- term, that will allow us to grow profitably at even higher rates than experienced over the last four years, while we continue to generate strong cash flows. 

As you know, I joined MTI just over seven years ago with a clear mission: transform the organization into a strong, high-performing operating company and generate increasing levels of shareholder value. I’m pleased that we have hit several milestones in achieving 

