“Work will begin immediately with some new capacity available starting in 2012,” said Angelo Brisimitzakis, president and CEO of Compass Minerals, GSLM’s parent company. The announcement came Thursday as the company celebrated the 40th anniversary of its first shipment of “sulfate of potassium” or SOP, a nonchemically enhanced fertilizer widely used to improve fruit and vegetable yields.
Brisimitzakis said the $160 million investment is the second of a three-phase plan to address the growing agricultural demand for SOP in the decades ahead. The company, which currently produces approximately 350,000 tons every year from its 45,000 acres of solar ponds, contends it is the only SOP producer in the United States. The first phase, which saw the company invest $40 million in its plant to increase its annual potassium sulfate production by 100,000 tons, was launched in 2008 and is expected to be completed by year end. The Salt Lake Tribune