Opta Minerals Inc.
TSX : OPM

Opta Minerals Inc.

November 11, 2011 09:02 ET

Opta Minerals Acquires the Members' Interest in Inland RC, L.L.C.

WATERDOWN, ONTARIO--(Marketwire - Nov. 11, 2011) - Opta Minerals Inc. (TSX:OPM) today announced today that its wholly-owned subsidiary, MTI 01-2006 Inc. ("Opta"), has completed the acquisition of the members' interest in Inland RC, L.L.C. ("Inland"), a Michigan Limited Liability Company.

Operating in Elyria, Ohio, Inland is a manufacturer of pre-cast refractory shapes, injection lances, stirring lances and electric furnace deltas with annual revenues of approximately $3 million. This acquisition complements Opta's existing product portfolio and provides for additional product line offerings to new and existing customers in the region. The Inland facility has capacity for further growth and expansion.

Purchase price was approximately $0.6 million cash plus contingent consideration based on the achievement of certain future targets. The acquisition is expected to be accretive to Opta in fiscal 2012.

Inland employs approximately 15 people and is technologically advanced with respect to product and manufacturing techniques which can be leveraged at other Opta facilities. The addition of Inland further increases Opta's position in the mill and foundry business and further expands its current position as a key service provider to the North American steel industry.

David Kruse, President and CEO of Opta Minerals Inc. commented, "We are very pleased to have completed this transaction, as it is a complementary business and will be easily integrated into our existing business."

About Opta Minerals

Opta Minerals Inc is a vertically integrated provider of custom process optimization solutions and related materials for use primarily in the steel, foundry, loose abrasive cleaning and municipal water filtration industries. The Company currently has production and distribution facilities in Ontario, Québec, Louisiana, South Carolina, Virginia, Maryland, Indiana, Michigan, New York, Texas, Florida, Kosice, Slovakia, and Romans-sur-Isère, France and one of the broadest product lines in the industry.

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