PLYMOUTH, Minn.--(BUSINESS WIRE)--
The Mosaic Company (NYSE: MOS) today announced that it will reduce its
phosphate production plans by 300,000 tons for the spring season. Mosaic
has been monitoring U.S. markets and NOLA DAP prices, and has decided to
reduce production due to continued weather concerns across key U.S.
growing regions, along with higher than normal carryover inventory
levels from the fall.
Mosaic believes the current margin structure does not reflect today’s
balanced market conditions. Protecting margins at this seasonably slow
time of the year is important for the Company and its customers.
The reduction will impact Mosaic’s U.S. phosphate facilities in Florida
and Louisiana and will be accomplished through changes in maintenance
schedules and operational production plans.
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers
of concentrated phosphate and potash crop nutrients. Mosaic is a single
source provider of phosphate and potash fertilizers and feed ingredients
for the global agriculture industry. More information on the Company is
available at www.mosaicco.com.
This release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such statements
include, but are not limited to, statements about the anticipated
benefits or strategic plans and other statements about anticipated
future financial, production and operating performance. Such statements
are based upon the current beliefs and expectations of The Mosaic
Company’s management and are subject to significant risks and
uncertainties. These risks and uncertainties include, but are not
limited to: difficulties with realization of the benefits or strategic
plans; actual costs of various items differing from management’s current
estimates, price and demand volatility for our products, other changes
in market conditions, accidents and disruptions, including potential
mine fires, floods, explosions, seismic events, sinkholes or releases of
hazardous or volatile chemicals; changes in foreign currency and
exchange rates; international trade risks and other risks associated
with Mosaic's international operations, changes in government policy,
changes in environmental and other governmental regulation, as well as
other risks and uncertainties reported from time to time in The Mosaic
Company’s reports filed with the Securities and Exchange Commission.
Actual results may differ from those set forth in the forward-looking
statements.
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Media
Ben Pratt
The Mosaic
Company
763-577-6102
benjamin.pratt@mosaicco.com
Investors
Laura Gagnon
The
Mosaic Company
763-577-8213
investor@mosaicco.com
Source: The Mosaic Company