OVERLAND PARK, Kan.--(BUSINESS WIRE)--Aug. 20, 2012--
Production at Compass Minerals’ (NYSE: CMP) salt mine in Goderich,
Ontario, will be temporarily reduced due to a strike called this morning
by the Communications, Energy and Paperworkers Union Local 16-O. The
company has strong deicing salt inventories following the historically
mild winter season and believes mine management will be able to produce
sufficient rock salt to meet its non-seasonal-customers’ needs while
negotiations continue. The union represents approximately 380 employees
at the mine.
“The company's proposed three-year agreement includes higher wages and
attractive benefits and addresses additional jobs associated with the
company’s investment in new mining technology. When negotiations were
suspended by the union, we were in agreement on all issues but one
management-rights topic. We’re confident that we can work with union
leadership to reach a mutually satisfactory agreement,” said Angelo
Brisimitzakis, Compass Minerals’ president and CEO. “We look forward to
resuming normal operations soon, and with our current strong inventory
position we expect to have no difficulty serving our highway deicing
customers this season.”
About Compass Minerals
Based in the Kansas City metropolitan area, Compass Minerals is a
leading producer of minerals, including salt, sulfate of potash
specialty fertilizer and magnesium chloride. The company provides
highway deicing salt to customers in North America and the United
Kingdom and specialty fertilizer to growers worldwide. Compass Minerals
also produces consumer deicing, water conditioning and pool products,
ingredients used in consumer and commercial foods, and other
mineral-based products for consumer, agricultural and industrial
applications. The company also provides records management services to
businesses throughout the U.K. For more information, visit www.compassminerals.com.
This press release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act 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 the "Risk Factors"
sections of our Annual and Quarterly Reports on Forms 10-K and 10-Q. The
company undertakes no obligation to update any forward-looking
statements made in this press release to reflect future events or
developments.
Source: Compass Minerals
Compass Minerals
Peggy Landon, 913-344-9315
Director,
Investor Relations and
Corporate Communications
or
Kelly
Barton, 913-344-9319
Manager, Corporate Communications