Sifto Canada Corp., a subsidiary of Compass Minerals (NYSE: CMP), has signed a new collective agreement with the Communications, Energy and Paperworkers Union Local 16-O, which represents approximately 400 employees at the company’s salt mine in Goderich, Ontario. The agreement was ratified by the union membership on September 29, ending the union’s strike which began August 20.
A tentative agreement had been reached on August 28. The union remained on strike an additional four weeks until the new three-year agreement was ratified on Saturday.
“We’re pleased that the union has ratified the mutually beneficial agreement, and we look forward to having all of our Goderich mine employees back to work,” said Angelo Brisimitzakis, Compass Minerals’ president and CEO. “Production and shipping continued during the strike; our customers should have all the salt they need this upcoming winter.”
The final agreement, which includes competitive wage increases, more flexible production scheduling and skill improvements associated with the company’s investment in continuous mining technology, has no material changes from terms of the tentative agreement the parties previously reached.About Sifto Canada Corp. Sifto Canada Corp. operates the world’s largest rock salt mine in Goderich, Ontario, and is Canada’s leading provider and marketer of highway and consumer deicing salt. Sifto also operates mechanical evaporation facilities in Goderich and at two other sites in Canada, providing high-quality food salt, water care minerals, agricultural minerals, and many other high-purity consumer and industrial salt and mineral products. Sifto is a wholly owned subsidiary of Compass Minerals. For more information, visit www.siftocanada.com. 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, water conditioning and pool products, ingredients used in consumer and commercial foods, and other mineral-based products for consumer, agricultural and industrial applications. The company also provides records management services to businesses throughout the U.K. For more information, visit www.compassminerals.com. 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 the "Risk Factors" sections of our Annual and Quarterly Reports on Forms 10-K and 10-Q. 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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