Resumen de PotashCorp to cull more than 400 jobs in challenging fertiliser market
Placing the potash operation on care and maintenance is expected to increase [PotashCorp]'s competitiveness and reduce the cost of goods sold by around $40-$50m in 2016, although severance and transition costs will partly offset this figure.
Customers previously served from the facility will now receive potash deliveries from Saskatchewan through Canpotex - the marketing arm jointly owned by PotashCorp, Mosaic Co. and Agrium - while storage and loading facilities previously used at the port of St John - including a capacity of up to 2.5m tpa potash - will be made available to Canpotex, PotashCorp outlined.
According to local news service, CBC News, the economic fallout from the suspension of PotashCorp's operations will be widespread. The Picadilly facility is located near Sussex, which has a population of just 4,300, and the loss of 430 jobs is likely to have a knock-on effect on local businesses.
