01.04.2008 00:32:00
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Compass Minerals to Increase Prices of Sulfate of Potash Specialty Fertilizers
Great Salt Lake Minerals Corp. (GSL), a subsidiary of Compass Minerals
(NYSE: CMP), will increase the price of its sulfate of potash (SOP)
specialty fertilizer products by an average of $72 per short ton
effective with all shipments April 14, 2008, or as allowed by existing
contracts.
"This price increase will help support our
announced plans for a multi-phased expansion of our SOP production
capacity at the Great Salt Lake in Utah, allowing us to better meet the
long-term needs of the growers who rely upon our specialty fertilizer
products,” said Ronald Bryan, vice president
and general manager, GSL.
With this latest increase, the company has also introduced a simplified
SOP price list which is posted on the GSL website at www.gslminerals.com.
The list price for standard, non-granulated SOP will be $658 per short
ton at the company’s Ogden, Utah, solar
evaporation plant and granular SOP will be $670 per short ton. These new
prices will apply on April 14 to all new customers and spot transactions
and will be progressively implemented throughout 2008 as current
contracts expire.
About Compass Minerals
Based in the Kansas City metropolitan area, Compass Minerals is a
leading producer of inorganic 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 produces and distributes consumer deicing and water
conditioning products, ingredients used in consumer and commercial
foods, specialty fertilizers, and products used in agriculture and other
consumer and industrial applications. Compass Minerals also provides
records management services to businesses throughout the U.K.
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 Compass Minerals
International's annual report on Form 10-K filed with the
Securities and Exchange Commission on February 22, 2008. The Company
undertakes no obligation to update any forward-looking statements made
in this press release to reflect future events or developments.
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