Zemex to buy K-T Clay

TORONTO (Nov. 27)—Toronto-based Zemex Corp. has agreed to purchase K-T Clay, the ball clay and kaolin operations of Hecla Mining Co. of Coeur d´Alene, Idaho. Zemex is a producer of industrial minerals and specialty products and, through its Alumitech unit, reprocesses aluminum drosses with its patented zero-discharge technology. The purchase of K-T, which reported 1999 sales of $51.6 million, "makes Zemex the largest supplier of raw materials to the sanitaryware and tile industry, and further enhances (Zemex´s) supply of products to the fiberglass, plastic and coatings markets," Zemex President Richard Lister said in a prepared statement. The $68 million acquisition is subject to closing adjustments and regulatory approval, Zemex said.