Printer Friendly

IMC-AGRICO COMPANY TO SUSPEND OPERATIONS AT TAFT, LOUISIANA PHOSPHATE PLANT

NORTHBROOK, Ill., March 8 /PRNewswire/ -- IMC-Agrico Company, a joint venture partnership between IMC Global Inc. (NYSE: IGL) and Freeport-McMoRan Resource Partners, Limited Partnership, (NYSE: FRP) announced today the temporary suspension of production at its Taft, LA, plant commencing March 11, 1996. The facility, which has an annual capacity of one million tons of diammonium phosphate (DAP), is located on the Mississippi River.

Richard H. Block, president of the joint venture, said, "A seasonal downturn in international purchasing activity combined with a domestic spring planting season that has not yet reached full swing, has led to our decision to reduce IMC-Agrico's output."

Block further noted, "The domestic demand for concentrated phosphates this spring is still expected to be very strong as the nation's farmers begin rebuilding world grain supplies that have fallen to their lowest level ever. We remain highly optimistic about business conditions in the coming months and beyond, and are fully prepared to meet our customers' needs."

IMC-Agrico is one of the world's leading producers of phosphate rock, concentrated phosphate crop nutrients and animal feed ingredients. IMC Global manages the joint venture through its operating subsidiary, IMC Global Operations Inc.
 -0- 3/8/96


/CONTACT: Financial: Peter Hong, 847-205-4820, or Public Relations: Thomas C. Pasztor, 847-205-4801, both of IMC Global Inc.; or Financial: Craig E. Saporito, 504-582-4476, or Christopher D. Sammons, 504-582-4474, both of Freeport-McMoRan Resource Partners/

/IMC Global's press releases available through Company News On-Call by fax, 800-758-5804, ext. 433650, or at http://www.prnewswire.com/

/The IMC Global logo available via Wieck Photo Database, 214-392-0888/

(IGL FRP)

CO: IMC-Agrico ST: Illinois, Louisiana IN: AGR CHM SU:

CS-BG -- CLF018 -- 1628 03/08/96 13:30 EST
COPYRIGHT 1996 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 8, 1996
Words:278
Previous Article:CONCENTRIC NETWORK CORPORATION NAMES SCOTT G. EAGLE VICE PRESIDENT OF MARKETING
Next Article:ACME-CLEVELAND CORPORATION EVALUATES TENDER OFFER RECOMMENDS SHAREHOLDERS DO NOT TENDER
Topics:

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters