Opta Minerals Inc.
TSX : OPM

Opta Minerals Inc.

April 10, 2015 16:30 ET

Opta Minerals Inc. Divests of Assets and Business of Inland RC, LLC

WATERDOWN, ONTARIO--(Marketwired - April 10, 2015) - Opta Minerals Inc. (TSX:OPM) today announced that its wholly owned subsidiary Inland RC, LLC has sold its operating assets and its business to H.R. Curry Company Inc.

Operating in Elyria, Ohio, Inland is a manufacturer of pre-cast refractory shapes, injection lances, stirring lances and electric furnace deltas. H.R Curry out of New Kensington, Pennsylvania is a family run business established in 1946 with similar and complementary product lines to Inland.

Opta Minerals has decided to exit the refractory business to focus on its other core Steel businesses. Opta Minerals will purchase refractory products from the new owner and continue to supply its existing customers. The Inland employees will also transition to the new owner. The business was sold at approximately the book value of the fixed assets and inventory.

Paul Uguccioni, Vice President Operations for Opta Minerals comments, "We believe this transaction simplifies our operations and will allow us to focus our manufacturing expertise within our core competencies of desulphurization and insulating products, while at the same time Inland products will still available to our customers. We believe HR Curry will be the ideal partner for Opta Minerals given their long established presence and reputation in the refractory business."

Jeff Curry, President of H.R Curry commented, "We are pleased to have completed this transaction as it further expands our operating platform within the refractory industry and look forward to an ongoing relationship with Opta Minerals."

About Opta Minerals

Opta Minerals is a vertically integrated provider of custom process solutions and industrial mineral products used primarily in the steel, foundry, loose abrasive cleaning, water-jet cutting and municipal water filtration industries. The Company has production and distribution facilities in Ontario, Quebec, Saskatchewan, Louisiana, South Carolina, Virginia, Maryland, Indiana, Michigan, New York, Texas, Florida, Ohio, Idaho, France, Slovakia and Germany. Opta has one of the broadest product lines in the industry.

About H.R. Curry

In September 1946, Herbert R. Curry founded H.R. Curry Company in a two-car garage in a small community in Pittsburgh, PA. From the original two-car garage, H.R. Curry has grown and thrived over the past nearly 7 decades, and today ships worldwide. H.R. Curry is a leading manufacture of refractory pre-cast shapes supplying multiple industries including steel, foundry, power plants and glass. With the addition of Inland RC assets, H.R Curry will operate 2 manufacturing facilities in Elyria, OH and New Kensington, PA totaling over 100,000 square feet. Even with growth, the H.R. Curry focus will remain on customer service and producing the highest quality products.

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