8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant To Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 26, 2007

MINERALS TECHNOLOGIES INC.
(Exact name of registrant as specified in its charter)

Delaware	1-3295	25-1190717
(State or other jurisdiction	(Commission File	(IRS Employer
of incorporation)	Number)	Identification No.)
405 Lexington Avenue, New York, NY		10174-0002
(Address of principal executive offices)		(Zip Code)
	(212) 878-1800
	(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions.

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)

[   ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))

[   ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))

Item 2.02	Results of Operations and Financial Condition.
	On July 26, 2007 Minerals Technologies Inc. issued a press release regarding its
	financial performance for the second quarter of 2007 and the declaration of a
	regular quarterly dividend of $0.05 per share on its common stock. A copy of
	the press release is attached hereto as Exhibit 99.1 and incorporated by
	reference herein.
	The information in this Item 2.02 and Exhibit 99.1 shall not be deemed filed for
	the purposes of Section 18 of the Securities and Exchange Act of 1934, as
	amended, or incorporated by reference in any filing under the Securities Act of
	1933, as amended, except as shall be expressly set forth by specific reference in
	such filing.
Item 9.01	Financial Statements and Exhibits.
	(c)     Exhibits
	99.1     Press Release dated July 26, 2007

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	MINERALS TECHNOLOGIES INC.
	(Registrant)
	By:	/s/ Kirk G. Forrest
	Name:	Kirk G. Forrest
	Title:	Secretary
Date: July 26, 2007

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MINERALS TECHNOLOGIES INC.

EXHIBIT INDEX

Exhibit No.	Subject Matter
99.1	Press Release dated July 26, 2007

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EX-99.1

News       

For Immediate Release	Contact:
July 26, 2007	Rick B. Honey
	(212) 878-1831

MINERALS TECHNOLOGIES INC. REPORTS SECOND QUARTER
DILUTED EARNINGS PER SHARE OF $0.74,
A 17-PERCENT INCREASE OVER PRIOR YEAR
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Company Also Declares Regular Dividend of $0.05 per Share on its Common Stock
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NEW YORK, July 26--Minerals Technologies Inc. (NYSE: MTX) today reported second quarter net income of $14.4 million, a 14-percent increase over the $12.6 million reported in the second quarter of 2006. Diluted earnings per common share were $0.74, a 17-percent increase over the $0.63 reported in the second quarter of last year.

          Worldwide sales in the quarter increased 5 percent to $279.5 million from $266.4 million in the previous year. Foreign exchange had a favorable impact on sales of approximately $6.1 million, or 2 percentage points of growth. Income from operations was $24.3 million, a 16-percent increase over the $20.9 million recorded in the second quarter of 2006.

          "Our second quarter results showed an improvement in profitability over the prior year, particularly in the PCC and Refractory product lines," said Joseph C. Muscari, chairman and chief executive officer. "In addition, we continue to derive benefits from the expense control program we instituted in the first quarter and from foreign exchange."

          Sequentially, sales increased 2 percent over the first quarter of 2007, and income from operations increased 22 percent. This is primarily attributable to improved shipment levels in the Processed Minerals product line and improved conditions in the steel industry, which benefited the Refractory product line.

          Worldwide sales for the first six months of 2007 increased 4 percent to $553.0 million over the $531.1 million reported last year. Foreign exchange had a favorable impact on sales of approximately $11.5 million or 2 percentage points of growth. The

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remaining sales growth was attributable to the company's acquisition of a refractory business in Turkey in the fourth quarter of 2006, and higher selling prices in Paper PCC. Operating income for the first six months of 2007 was $44.1 million, an 11-percent increase over the $39.8 million reported in the first half of 2006.

          Non-operating deductions increased in the first half of 2007 due to an increase in net interest expense of approximately $1.5 million as a result of increased borrowing. In addition, in the first half of 2006, the company recognized an insurance settlement gain of approximately $1.8 million, which reduced the prior year's non-operating deductions.

          For the first six months of 2007, consolidated net income decreased 1 percent to $25.2 million from $25.4 million in the prior year. Diluted earnings per common share increased 2 percent to $1.30 from $1.27 for the same period in 2006.

          In the second quarter, sales in the Specialty Minerals segment, which includes the Precipitated Calcium Carbonate (PCC) and Processed Minerals product lines, increased 5 percent to $188.9 million from $179.5 million in the comparable quarter of 2006. Income from operations for the second quarter of 2007 was $15.8 million, a 19-percent increase over the $13.3 million reported the previous year. For the first six months of 2007, Specialty Minerals sales increased 3 percent to $372.9 million from $360.6 million in 2006. Income from operations for the six months increased 13 percent to $28.9 million from $25.5 million in the prior year.

          Worldwide net sales of PCC increased 9 percentin the second quarter to $149.5 million from $137.7 million in the same period in 2006. Foreign exchange had a favorable impact on sales of approximately $4.1 million or 3 percentage points of growth. Total PCC sales for the first six months of 2007 were $298.1 million, a 7-percent increase over the $279.6 million in the prior year, of which foreign exchange represented 3 percentage points of growth.

          For the second quarter, Paper PCC sales grew 8 percent to $133.9 million from $123.6 million in the prior year primarily due to increased selling prices and foreign currency. Total Paper PCC volumes declined slightly due to weakness in the North American market. For the first half of 2007, Paper PCC sales grew 7 percent to $267.6 million from $250.4 million.

          Sales of Processed Minerals products for the second quarter were $39.4 million, a 6-percent decline from the $41.8 million reported for the same period in 2006. Talc sales

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declined 4 percent to $15.4 million from $16.1 million in the prior year. Ground Calcium Carbonate (GCC) sales also decreased 4 percent. The Processed Minerals product line continues to be affected by weakness in the residential and commercial construction markets, as well as the automotive market. For the first six months, sales of Processed Minerals products decreased 8 percent to $74.8 million from $81.0 million in 2006. Processed Minerals products are used in the building materials, polymers, ceramics, paints and coatings, glass and other manufacturing industries. In addition, SYNSIL^® Products sales decreased 36 percent to $1.4 million from $2.2 million in the prior year. For the first half of the year, SYNSIL^® Products sales decreased 38 percent to $2.8 million from $4.5 million in the previous year. This decline was primarily attributable to a reduction in commercial demand from the company's customer sampling facility in Ohio. In addition, sales from the company's two commercial facilities remain below expectations.

          Second quarter net sales in the Refractories segment, which primarily serves the steel industry, increased 4 percent to $90.6 million from $86.9 million in the same period of 2006. Income from operations for the Refractories segment in the second quarter of 2007 increased 12 percent to $8.5 million from $7.6 million in the same period last year.

          Sales of Refractory Products and Systems for steel and other industrial applications increased 11 percent in the second quarter to $73.1 million from $66.1 million last year. This increase was attributable to the incremental sales from the recent acquisition in Turkey and to foreign currency. Sales of Metallurgical Products decreased 16 percent in the second quarter to $17.5 million compared with $20.8 million in the same period last year. This decrease was primarily attributable to lower volumes in North America and Latin America and lower prices resulting from the reduction in the cost of raw materials that is traditionally passed through to the customers for this product line.

          The Refractories segment saw improved profitability during the quarter as a result of a favorable product mix in North American Refractory Products and Systems, partially offset by weakness in Metallurgical Products.

          For the first six months, sales in the Refractories segment increased 6 percent to $180.1 million from $170.5 million in the same period in 2006. Income from operations for the six months increased 6 percent—to $15.2 million from $14.3 million for the first six months of 2006.

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          "Although the Refractory segment improved during the quarter, we are now seeing price increases for magnesia, the primary raw material for refractories, which will have an impact for the remainder of the year," said Mr. Muscari.

          Mr. Muscari concluded: "In the five months since joining Minerals Technologies, I have been assessing all aspects of the business through meetings with customers and employees as well as conducting an in-depth strategic review with senior managers. The initial steps we have taken have been to initiate a rigorous monthly Business Performance Review process, establish tighter expense controls, reduction in capital spending and the introduction of a Continuous Improvement process that will be implemented throughout the entire company. This assessment process continues, focusing on the key strategic questions of company direction, structure, business portfolio and technologies. We are working to put MTI on a track of creating value." The company also declared a regular quarterly dividend of $0.05 per share on its common stock.

          The dividend is payable on September 17, 2007 to stockholders of record on September 3, 2007.

Minerals Technologies has scheduled an analyst conference call for Friday, July 27, 2007 at 11:00 a.m. to discuss operating results for the second quarter. The conference call will be broadcast over the company’s website, www.mineralstech.com.

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This press release may contain forward-looking statements, which describe or are based on current expectations; in particular, statements of anticipated changes in the business environment in which the company operates and in the company’s future operating results. Actual results may differ materially from these expectations. In addition, any statements that are not historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates,” and similar expressions) should also be considered to be forward-looking statements. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this document should be evaluated together with the many uncertainties that affect our businesses, particularly those mentioned in the risk factors and other cautionary statements in our 2006 Annual Report on Form 10-K and in our other reports filed with the Securities and Exchange Commission.

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CONSOLIDATED STATEMENTS OF INCOME
MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
(in thousands, except per share data)
(unaudited)

	Quarter Ended							% Growth				Six Months Ended				% Growth
	July 1,		April 1,		July 2,							July 1,		July 2,
	2007		2007		2006			Prior Year		Prior Qtr.		2007		2006		Prior Year
Net sales	$	279,475	$	273,541	$	266,356		5	%	2	%	$	553,016	$	531,058	4	%
Cost of goods sold		220,837		218,626		210,303		5	%	1	%		439,463		421,276	4	%
Production margin		58,638		54,915		56,053		5	%	7	%		113,553		109,782	3	%
Marketing and administrative expenses		27,010		27,343		27,234		(1	)%	(1	)%		54,353		54,902	(1	)%
Research and development expenses		7,365		7,688		7,861		(6	)%	(4	)%		15,053		15,080	(0	)%
Income from operations		24,263		19,884		20,958		16	%	22	%		44,147		39,800	11	%
Non-operating deductions (income) - net		1,750		2,596		1,597		10	%	(33	)%		4,346		886	*
Income before provision for taxes
on income, minority interests and
discontinued operations		22,513		17,288		19,361		16	%	30	%		39,801		38,914	2	%
Provision for taxes on income		7,316		5,619		5,867		25	%	30	%		12,935		11,788	10	%
Minority interests		823		848		873		(6	)%	(3	)%		1,671		1,774	(6	)%
Income from continuing operations		14,374		10,821		12,621		14	%	33	%		25,195		25,352	(1	)%
Income (loss) from discontinued operations, net of tax		0		0		(51	)	*		*			0		30	*
Net income	$	14,374	$	10,821	$	12,570		14	%	33	%	$	25,195	$	25,382	(1	)%
Weighted average number of common
shares outstanding:
Basic		19,202		19,046		19,836							19,133		19,892
Diluted		19,457		19,241		19,994							19,358		20,039
Earnings per share:
Basic:
Income from continuing operations	$	0.75	$	0.57	$	0.64		17	%	32	%	$	1.32	$	1.28	3	%
Income (loss) from discontinued operations		0.00		0.00		(0.00	)	*		*			0.00		0.00	*
Net income	$	0.75	$	0.57	$	0.64		17	%	32	%	$	1.32	$	1.28	3	%
Diluted:
Income from continuing operations	$	0.74	$	0.56	$	0.63		17	%	32	%	$	1.30	$	1.27	2	%
Income (loss) from discontinued operations		0.00		0.00		(0.00	)	*		*			0.00		0.00	*
Net income	$	0.74	$	0.56	$	0.63		17	%	32	%	$	1.30	$	1.27	2	%
Cash dividends declared per common share	$	0.05	$	0.05	$	0.05						$	0.10	$	0.10
* Percentage not meaningful

MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
NOTES TO CONSOLIDATED STATEMENTS OF INCOME

1)	Sales decreased 2% in the United States in the second quarter of 2007 as compared with second quarter of 2006. International sales increased 15% in the second quarter of 2007 as compared with second quarter of 2006. Sequentially, sales in the United State increased 3% from the first quarter of 2007 and international sales increased 2% from the first quarter of 2007 Sales decreased 4% in the United States in the first half of 2007 as compared with the first half of 2006. International sales increased 16% in the first half of 2007 as compared with first half of 2006.
2)	During the fourth quarter of 2006 the Company liquidated its wholly-owned subsidiary in Hadera, Israel and classified such business as a discontinued operation. The Company had previously operated a one-unit satellite PCC facility at this location.
	The following table details selected financial information for the business included within discontinued operations in the Consolidated Statements of Income (thousands of dollars):

	Quarter Ended									Six Months Ended
	July 1,			April 1,			July 2			July 1			July 2,
	2007			2007			2006			2007			2006
Net sales	$	0		$	0		$	130		$	0		$	1,468
Income from operations		0			0			(100	)		0			22
Foreign currency translation loss
arising from liquidation of investment in
foreign entity		0			0			0			0			0
Income (loss) from discontinued operations, net of tax	$	0		$	0		$	(51	)	$	0		$	30
3)    The following table reflects the components of non-operating income and deductions (thousands of dollars):
	Quarter Ended									Six Months Ended
	July 1,			April 1,			July 2			July 1			July 2,
	2007			2007			2006			2007			2006
Interest income	$	609		$	484		$	264		$	1,093		$	779
Interest expense	(2,585		)		(2,554	)		(1,700	)		(5,139	)		(3,264	)
Gain on insurance settlement		--			--			--			--			1,822
Foreign exchange gains (losses)		225			(329	)		83			(104	)		225
Other deductions		1			(197	)		(244	)		(196	)		(448	)
Non-operating deductions, net	$	(1,750	)	$	(2,596	)	$	(1,597	)	$	(4,346	)	$	(886	)

	During the first quarter of 2006, the Company recognized an insurance settlement gain of approximately $1.8 million for property damage sustained in 2004 at the Easton, Pennsylvania facility related to a storm.
4)	The results of operations for the interim period ended July 1, 2007 are not necessarily indicative of the results that ultimately might be achieved for the current year.
5)	The analyst conference call to discuss operating results for the second quarter is scheduled for Friday, July 27, 2007 at 11:00 a.m. and will be broadcast over the Company's website (www.mineralstech.com). The broadcast will be available on the Company's website for no less than one year.

SUPPLEMENTARY DATA
MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
(millions of dollars)
(unaudited)

	Quarter Ended						% Growth				Six Months Ended				% Growth
SALES DATA	July 1,			April 1,		July 2,					July 1,			July 2,
	2007			2007		2006	Prior Year		Prior Qtr		2007			2006	Prior Year
United States	$	156.8	$	152.8	$	160.1	(2	)%	3	%	$	309.6	$	321.9	(4	)%
International		122.7		120.7		106.3	15	%	2	%		243.4		209.2	16	%
Net Sales	$	279.5	$	273.5	$	266.4	5	%	2	%	$	553.0	$	531.1	4	%
Paper PCC	$	133.9	$	133.6	$	123.6	8	%	0	%	$	267.6	$	250.4	7	%
Specialty PCC		15.6		15.0		14.1	11	%	4	%		30.5		29.2	4	%
PCC Products	$	149.5	$	148.6	$	137.7	9	%	1	%	$	298.1	$	279.6	7	%
Talc	$	15.4	$	14.8	$	16.1	(4	)%	4	%	$	30.2	$	30.9	(2	)%
Synsil® Products		1.4		1.4		2.2	(36	)%	0	%		2.8		4.5	(38	)%
Ground Calcium Carbonate		22.6		19.2		23.5	(4	)%	18	%		41.8		45.6	(8	)%
Processed Minerals Products	$	39.4	$	35.4	$	41.8	(6	)%	11	%	$	74.8	$	81.0	(8	)%
Specialty Minerals Segment	$	188.9	$	184.0	$	179.5	5	%	3	%	$	372.9	$	360.6	3	%
Refractory products	$	73.1	$	71.5	$	66.1	11	%	2	%	$	144.7	$	127.2	14	%
Metallurgical Products		17.5		18.0		20.8	(16	)%	(3	)%		35.4		43.3	(18	)%
Refractories Segment	$	90.6	$	89.5	$	86.9	4	%	1	%	$	180.1	$	170.5	6	%
Net Sales	$	279.5	$	273.5	$	266.4	5	%	2	%	$	553.0	$	531.1	4	%
SEGMENT OPERATING INCOME DATA
Specialty Minerals Segment	$	15.8	$	13.2	$	13.3	19	%	20	%	$	28.9	$	25.5	13	%
Refractories Segment	$	8.5	$	6.7	$	7.6	12	%	27	%	$	15.2	$	14.3	6	%
Consolidated	$	24.3	$	19.9	$	20.9	16	%	22	%	$	44.1	$	39.8	11	%

MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
CONDENSED CONSOLIDATED BALANCE SHEETS

ASSETS
(In Thousands of Dollars)
	July 1,		December 31,
	2007*		2006**
Current assets:
Cash & cash equivalents	$	86,064	$	67,929
Short-term investments		9,866		8,380
Accounts receivable, net		196,884		188,784
Inventories		125,794		129,894
Prepaid expenses and other current assets		19,096		16,775
Total current assets		437,704		411,762
Property, plant and equipment		1,519,545		1,478,922
Less accumulated depreciation		875,131		826,125
Net property, plant & equipment		644,414		652,797
Goodwill		72,811		68,977
Prepaid pension costs		35,455		25,717
Other assets and deferred charges		38,994		33,871
Total assets	$	1,229,378	$	1,193,124
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term debt	$	52,443	$	87,644
Current maturities of long-term debt		8,458		2,063
Accounts payable		59,397		60,963
Other current liabilities		56,683		61,393
Total current liabilities		176,981		212,063
Long-term debt		112,201		113,351
Other non-current liabilities		135,638		115,153
Total liabilities		424,820		440,567
Total shareholders' equity		804,558		752,557
Total liabilities and shareholders' equity	$	1,229,378	$	1,193,124

*	Unaudited.
**	Condensed from audited financial statements.