OVERLAND PARK, Kan.--(BUSINESS WIRE)--Compass Minerals (NYSE: CMP) will increase its magnesium chloride production capacity from 550,000 liquid tons to one million tons by 2015. The production increase will not require any additional investment because it will leverage prior plant investments as well as the company's patent-pending technology that increases the efficiency of its solar evaporation ponds at the Great Salt Lake near Ogden, Utah.
This additional production capacity will strengthen Compass Minerals' position as the leading producer of magnesium chloride in North America and ensure that we have enough of this all-natural mineral to meet the long-term demand of our growing markets, said Angelo Brisimitzakis, Compass Minerals president and CEO.
Compass Minerals markets magnesium chloride through each of its three business units. In solid form, it is a premium consumer deicing product that can melt ice and snow at very low temperatures; has negligible impact on concrete, interior floors and vegetation; and is safe to use around pets.
It is used in liquid form by departments of transportation and other road-maintenance professionals as an environmentally friendly stabilizer for gravel roads, as a deicer at very low temperatures and as a high-performance deicing salt additive. It is also sold through the company's specialty fertilizer business as an additive for chloride-deficient soil.
The additional magnesium chloride will become available incrementally, with the full 450,000 additional tons available in 2015.
About Compass Minerals
Based in the Kansas City metropolitan area, Compass Minerals is a leading producer of 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 specialty fertilizer to growers worldwide. Compass Minerals also produces consumer deicing and water conditioning products, ingredients used in consumer and commercial foods, and other mineral-based products for consumer, agricultural and industrial applications. Compass Minerals also provides records management services to businesses throughout the U.K.