OVERLAND PARK, Kan.--(BUSINESS WIRE)--Apr. 27, 2018--
Compass Minerals (NYSE: CMP) announced a strike has been initiated today
by the union representing 341 hourly employees at its salt mine in
Goderich, Ontario. The company has implemented contingency operating
procedures and expects to operate the mine at or near its planned
operating rates for 2018. Currently, the company expects a minimal
impact on salt production costs resulting from the strike.
“The company has been in negotiations with the union since early March
with the goal of reaching a negotiated agreement that focuses on the
safety of our employees and represents the mine’s current operational
environment. While a quick end to the strike would be preferable, we
have contingency plans in place that will allow us to continue operating
the mine for the foreseeable future,” said Fran Malecha, Compass
Minerals’ president and CEO. “We have invested to ensure the longevity
of this mine’s operations for decades to come and to ensure quality
employment opportunities for our current workers as well as the next
generation. In addition, we are active supporters of the Goderich
community through charitable contributions and partnerships with local
organizations. We strongly believe our proposed offer will provide many
more years of economic growth for the mine and the Goderich community.”
About Compass Minerals
Compass
Minerals is a leading provider of essential minerals that solve
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. 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., Canada, Brazil and the U.K. For more
information about Compass Minerals and its products, please visit www.compassminerals.com.
This press release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. 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. The differences
could be caused by a number of factors, including without limitation (i)
weather conditions, (ii) pressure on prices and impact from competitive
products, (iii) any inability by the company to fund necessary capital
expenditures or successfully implement any capital projects, (iv)
foreign exchange rates and the cost and availability of transportation
for the distribution of the company’s products, (v) liabilities,
expenditures, impacts or disruptions related to the Goderich mine
strike, and (vi) any inability by the company to successfully implement
its cost-saving initiatives. For further information on these and other
risks and uncertainties that may affect the company’s business, see the
“Risk Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” sections of the company’s Annual
Report on Form 10-K for the year ended December 31, 2017 and its
Quarterly Report on Form 10-Q for the quarter ended March 31, 2018 filed
or to be filed with the SEC. 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: https://www.businesswire.com/news/home/20180427005856/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 Hefner, +1-913-344-9319
Manager of Corporate
Affairs
MediaRelations@compassminerals.com