Compass Minerals Announces That a Strike Has Been Called at its Goderich, Ontario, Salt Mine
Production at Compass Minerals' (NYSE: CMP) salt mine in Goderich, Ontario, will be temporarily reduced due to a strike called this morning by the Communications, Energy and Paperworkers Union Local 16-O. The company has strong deicing salt inventories following the historically mild winter season and believes mine management will be able to produce sufficient rock salt to meet its non-seasonal-customers' needs while negotiations continue. The union represents approximately 380 employees at the mine.
“The company's proposed three-year agreement includes higher wages and attractive benefits and addresses additional jobs associated with the company's investment in new mining technology. When negotiations were suspended by the union, we were in agreement on all issues but one management-rights topic. We're confident that we can work with union leadership to reach a mutually satisfactory agreement,” said Angelo Brisimitzakis, Compass Minerals' president and CEO. “We look forward to resuming normal operations soon, and with our current strong inventory position we expect to have no difficulty serving our highway deicing customers this season.”
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