Business briefs: Mosaic completes acquisition of phosphate business

March 20, 2014 

Mosaic

acquires

phosphate

business

TAMPA -- The Mosaic Company has completed its acquisition of CF Industries Inc.'s phosphate business for $1.2 billion in cash plus $200 million to fund the company's asset retirement obligation.

Mosaic has acquired a 25,000-acre phosphate mine and beneficiation plant, a phosphate manufacturing facility and an ammonia terminal and finished product warehouse facilities in the Tampa area. The facilities currently produce approximately 1.8 million tonnes of phosphate fertilizer per year, which will bring Mosaic's annual phosphates capacity to more than 11 million tons.

"This acquisition provides opportunities for enhanced operating efficiencies, lower production costs and reduced capital investment -- creating value for our shareholders, customers and employees," said Mosaic President and Chief Executive Officer James T. Prokopanko.

The acquisition adds to Mosaic's existing Florida operations, including a mine near Ona, where Mosaic plans to mine. It also complements the company's plans to mine phosphate rock reserves in Hardee and Desoto counties and extensions of the existing Wingate mine.

Annual directory forPort Manatee available

PORT MANATEE -- The 2014 Port Manatee Official Directory is everything you'd ever want to know about the port and can read in less than an hour.

The 60-page annual guide to the county's seaport came off the printing press in February. Published primarily as a public relations piece to go primarily to the port's business partners and businesses renting space on port, the 4,000 copies will also be sent to local chambers of commerce and is available for free to the public.

The directory is a guide to the people who operate the port, the port's highlights from the past year, and detailed information about port equipment, buildings and ship berths. Manatee Printers in Bradenton printed the directory. The port paid about $6,500 for the printing.

The directory is also available on the port's website, www.portmanatee.com, under the "Port Facts" quick link.

Bradenton's Yogurt Mountain wins award

BRADENTON -- The Yogurt Mountain store in Bradenton received the Excellence in Store Operations Award by its parent company.

The Bradenton store was recognized for its outstanding operations and continued growth since opening in June 2011.

Yogurt Mountain is a self-serve frozen yogurt shop.

Michelle Adams Cook accepted the award on behalf of the Bradenton store during the first Yogurt Mountain Franchise and Manager summit.

-- Herald staff, wire reports

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