OVERLAND PARK, Kan.--(BUSINESS WIRE)--Feb. 27, 2012--
Sifto Canada Corp., a subsidiary of Compass Minerals (NYSE: CMP), today
announced it has acquired the rights to additional property in Goderich,
ON, adjacent to the company’s Canadian salt mine for CA $2.8 million.
“The Goderich mine is strategically important to the company, to the
Goderich community and to the many people who depend on our highway
deicing salt to provide safer driving conditions in winter weather,”
said Angelo Brisimitzakis, president and CEO of Compass Minerals. “Over
the past several years we’ve been strategically investing in this
advantaged asset in order to increase and improve our operational
capabilities, and this new land provides us with additional low-cost
storage capacity to better serve our customers and provide us logistical
flexibilities.”
The additional land and ship berth also gives the company the
opportunity to increase ship-loading capabilities in the future, Dr.
Brisimitzakis said.
Additional profitable growth initiatives at the mine include:
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An agreement with the town of Goderich and the Goderich Port
Management Corporation to expand and enhance the Port of Goderich,
which will provide additional rock salt storage and expanded shipping
capabilities;
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Introduction of continuous mining equipment and processes that improve
productivity; and
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Our recently completed multi-phased mine expansion, which expanded
annual capability from about 6.5 million tons to about 9 million tons.
“While the August tornado caused damage to both our mine and Goderich
mechanical evaporation plant, it didn’t cause us to lose any long-term
focus,” Dr. Brisimitzakis said. “The hard work, dedication and can-do
spirit of our employees helped us safely overcome the tornado damages,
and we’re coming back, stronger than ever.”
About Sifto Canada Corp.
Sifto Canada Corp. operates the world’s largest rock salt mine in
Goderich, Ontario, and is Canada’s leading provider and marketer of
highway and consumer deicing salt. Sifto also is a premier provider of
high-quality food salt, water care minerals, agricultural minerals, and
many other consumer and industrial salt and mineral products. Sifto is a
wholly owned subsidiary of Compass Minerals. For more information, visit www.siftocanada.com.
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 and water conditioning products,
ingredients used in consumer and commercial foods, and other
mineral-based products for consumer, agricultural and industrial
applications. Compass Minerals 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
Kelly Barton, 913-344-9319
Corporate
Communications Manager