Opta Minerals Inc.
TSX : OPM

Opta Minerals Inc.

March 05, 2007 17:24 ET

Opta Minerals Inc. Expands Magnesium Desulfurization Business

WATERDOWN, ONTARIO--(CCNMatthews - March 5, 2007) - Opta Minerals Inc. (TSX:OPM), today announced that it will begin producing magnesium desulfurization products for the Canadian steel and foundry industry at its Waterdown Ontario facility. The Company will begin commercial production in the second quarter from Waterdown, and expects annual revenues from desulfurization products manufactured from Waterdown to be over $3.9 million, with continued strong internal growth in the following years. The Company has received a significant order for its products from a successful, Hamilton based, integrated steel manufacturer.

David Kruse, President and CEO of Opta Minerals commented "We are very excited about our expansion of product offerings to the Canadian steel industry. Opta Minerals will now have three facilities focused on the production of magnesium based reagents and slag conditioners. The facilities are located in Indiana, Ontario and Michigan and provide reassurance to our customers that Opta Minerals will always have a sufficient supply of magnesium based reagent materials & slag conditioners."

About Opta Minerals

Opta Minerals is a vertically integrated producer, manufacturer, distributor and recycler of industrial minerals, silica-free loose abrasives, roofing shingle granules, specialty sands and related products for use primarily in the foundry, steel, marine/bridge cleaning and municipal water filtration industries. The Company has experienced solid growth since July 1995, through a combination of internal growth and successfully integrated strategic acquisitions to become one of the dominant regional suppliers of silica-free loose abrasives in a number of select markets on the east coast of North America.

The Company currently has production and distribution facilities in Ontario, Quebec, Louisiana, South Carolina, Virginia, Maryland, Indiana, Ohio, Michigan and New York and one of the broadest product lines in the industry. Recognizing that the fragmentation and lack of consolidation among suppliers in its industry has provided it with a strategic growth opportunity, the Company intends to capitalize on this opportunity to become one of the dominant North American suppliers of industrial minerals and silica-free loose abrasives. In order to achieve this objective, the Company intends to accelerate its revenue and market share growth over the next several years by making a number of additional strategic acquisitions, through geographic expansion and through continued development of new products and services.

Contact Information