OVERLAND PARK, Kan.--(BUSINESS WIRE)--Dec. 23, 2015--
Compass Minerals (NYSE: CMP) has completed its purchase of a 35 percent
stake in Produquímica Industria e Comercio S.A. (Produquímica), one of
Brazil’s leading manufacturers and distributors of specialty plant
nutrients.
“We look forward to growing a strong partnership with Produquímica,”
said Fran Malecha, Compass Minerals president and CEO. “This investment,
which includes a path to ownership by early 2019, complements our plant
nutrition strategy and is a key step in reaching our growth targets.”
Compass Minerals acquired 35 percent of Produquímica for R$452.4 million
(approximately US$116 million), subject to customary post-closing
adjustments.
About Compass Minerals
Compass
Minerals is a leading provider of essential minerals that provide
solutions to nature’s challenges, including salt for winter roadway
safety and other consumer, industrial and agricultural uses, and
specialty plant nutrition minerals that improve the quality and yield of
crops. Named one of Forbes’ 100 Most Trustworthy Companies in America in
2015, Compass Minerals’ mission is to be the best essential minerals
company by delivering where and when it matters. The company produces
its minerals at locations throughout the U.S. and Canada and in the U.K.
For more information about Compass Minerals and its products, please
visit www.compassminerals.com.
Certain statements in this press release the company’s or
management’s beliefs, expectations or opinions are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are those that predict or
describe future events or trends and that do not relate solely to
historical matters. We use words such as “may,” “would,” “could,”
“should,” “will,” “likely,” “expect,” “anticipate,” “believe,” “intend,”
“plan,” “forecast,” “outlook,” “project," “estimate” and similar
expressions suggesting future outcomes or events to identify
forward-looking statements or forward-looking information. 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. These risks, uncertainties and factors specific to
the investment in Produquímica include, but are not limited to: (i) the
occurrence of any event, change or other circumstance that would result
in the termination or delay of the company’s acquisition of the
remaining Produquímica ownership stake by early 2019, (ii) the inability
to complete the proposed full ownership acquisition due to the failure
of the company or Produquímica to satisfy any of the conditions to the
closing of the acquisition, including the failure to obtain necessary
financing, (iii) the risk that the proposed full ownership acquisition
could disrupt the plans and operations of the company, Produquímica or
both, and (iv) the risk that the company may not realize the expected
financial and other benefits from the proposed acquisition. For further
information on these and other risks and uncertainties that may affect
our business, see the “Risk Factors” sections of our Annual Report on
Form 10-K for the year ended December 31, 2014 and when filed, our
Annual Report on Form 10-K for the year ended December 31, 2015. The
company undertakes no obligation to update any forward-looking
statements made in this press release to reflect future events or
developments. Because it is not possible to predict or identify all such
factors, this list cannot be considered a complete set of all potential
risks or uncertainties.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151223005691/en/
Source: Compass Minerals
Compass Minerals
Investor Contact
Theresa L.
Womble, +1-913-344-9362
Director of Investor Relations
womblet@compassminerals.com
or
Media
Contact
Tara Hart, +1-913-344-9319
External Communications
Manager
MediaRelations@compassminerals.com