PotashCorp to suspend operations at New Brunswick site

摘要

PotashCorp says that, against a challenging macroeconomic backdrop, the company is indefinitely suspending operations at its Picadilly, NB potash-mining site. The decision, which will have an impact on headcount, is designed to help PotashCorp optimize its production to the company's lower-cost potash operations. PotashCorp expects the decision will increase its competitiveness and reduce cost of goods sold by $40-50 million in 2016. However, the benefits of this optimization will be partially offset by severance and transition costs associated with the suspension of potash operations that are expected to be about $35 million and will be reflected in PotashCorp's first-quarter 2016 earnings.