Compass Minerals to Increase North American Rock Salt Capacity.OVERLAND PARK Overland Park, city (1990 pop. 111,790), Johnson co., NE Kans., a residential suburb of Kansas City; inc. 1960. There is printing and publishing, and the manufacture of apparel, aircraft parts, cement, prepared foods, salt, chemicals, marine accessories, and signs. , Kan. -- In response to increasing demand for highway deicing De-icing is the process of removing ice from a surface. Anti-icing is the process of preventing ice from forming on a surface. Deicing can be accomplished by mechanical methods (scraping), through the application of heat, by use of chemicals designed to lower salt in the Great Lakes region The Great Lakes region can refer to:
See: New York Stock Exchange : CMP CMP (cytidine monophosphate): see cytosine. (1) (CMP Media LLC, Manhasset, NY, www.cmp.com) Part of United Business Media, CMP is a leading integrated media company that offers a wide variety of publications and services in the information ) has announced a two-phased plan to increase its rock salt production capacity. In the initial phase of the expansion, which will commence immediately, the company will open a new mining panel at its Goderich, Ontario mine. This will increase the annual capacity of the mine by approximately 750,000 tons, resulting in a total mine capacity of 7.25 million tons by 2008. This phase of the expansion is expected to cost approximately $11 million, primarily for new equipment. Approximately $3 million of the capital expenditures are expected to occur in 2006. "We are redeploying a portion of the proceeds from the sale of our general trade evaporated-salt plant in the U.K. into a higher-return, internal-growth opportunity," explained Angelo Brisimitzakis, president and chief executive officer of Compass Minerals. "This strategic expansion will allow us to better meet the needs of communities in the Great Lakes region." Compass Minerals expects to add an additional 1 million tons of capacity in the Great Lakes region upon completion of the first phase and as market conditions warrant. The company is continuing to evaluate several strategies for this expansion. Compass Minerals currently has the capacity to produce 6.5 million tons of rock salt at the Goderich, Ontario mine, 2.8 million tons of rock salt at its Cote Blanche, Louisiana mine and 2 million tons at its mine in Cheshire, U.K. About Compass Minerals Based in the Kansas City metropolitan area, Compass Minerals is the second-leading salt producer in North America and the largest in the United Kingdom. The company operates 10 production and packaging facilities, including the largest rock salt mine in the world in Goderich, Ontario. The company's product lines include salt for highway deicing, consumer deicing, water conditioning, consumer and industrial food preparation, agriculture and industrial applications. In addition, Compass Minerals is North America's leading producer of sulfate sulfate, chemical compound containing the sulfate (SO4) radical. Sulfates are salts or esters of sulfuric acid, H2SO4, formed by replacing one or both of the hydrogens with a metal (e.g., sodium) or a radical (e.g., ammonium or ethyl). of potash, which is used in the production of specialty fertilizers for high-value crops and turf, and magnesium chloride magnesium chloride Warning - High-alert drug! Chloromag, Mag 64, Mag Delay, Slo-Mag Pharmacologic class: Mineral Therapeutic class: , which is a premium deicing and dust control agent. This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on the company's current expectations and involve risks and uncertainties that could cause the company's actual results to differ materially. The differences could be caused by a number of factors including those factors identified in Compass Minerals International's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission on February 24, 2006. The company will not update any forward-looking statements made in this press release to reflect future events or developments. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion