Compass Sells Micronutrient Assets to Koch Industries

Compass Minerals International Inc of Overland Park, KS has entered into a definitive agreement to sell certain of its North America micronutrient assets to Koch Agronomic Services LLC, a subsidiary of Koch Industries of Witchita, KS, for approximately US$60.25 million.

Compass says that the transaction represents another strategic step to optimize its asset portfolio to focus on the company’s core operations. These include three salt mines in North America and the UK, a number of North American production and packaging facilities, and solar evaporation operations at Great Salt Lake that produce the majority of the company’s sulfate of potash.

Kevin S Crutchfield, Compass’ CEO, said, “Today’s announcement, combined with the previously sale of our South America specialty plant nutrition business (to the ICL Group of Israel), highlights our strategic focus on strengthening our balance sheet and maximizing the productivity of our core operations. We look forward to continuing to drive value for all stakeholders while producing and marketing an array of raw and manufactured materials supporting the transportation, agricultural, chemical, food and animal nutrition sectors.”

The transaction is expected to close in the second quarter of 2021.

Volume 35, Issue 07

Leave a Reply