Abstract
In an effort to further narrow its focus on its health-related businesses, Pfizer plans to sell up to 70% of its specialty minerals group in a stock offering to the public. Pfizer plans to file a registration statement for the public offering this week with the Securities & Exchange Commission. It has named the new company Mineral Technologies and expects to complete sale of its shares before the end of the year. Jean-Paul Valles, currently Pfizer vice chairman, will be chairman and chief executive officer of Mineral Technologies. Pfizer chairman and chief executive William C. Steere Jr. and Pfizer chairman emeritus Edmund T. Pratt Jr. will be among its directors. The group, with 1991 sales of $359 million, represents just 5% of Pfizer's 1991 sales of nearly $7 billion. The unit produces and markets such products as precipitated calcium carbonate, limestone, monolithic refractories, and specialty products for iron, steel, and glass production. The group's jewel ...
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