PotashCorp Announces Ratification of Labor Contracts at Cory, Allan and Patience Lakeadmin
Potash Corporation of Saskatchewan Inc. announced that employees represented by United Steelworkers’ (USW) Local 7689 at Allan, USW Local 7458 at Cory and USW Local 189 at Patience Lake, voted to ratify collective agreements tentatively agreed upon on November 7. The three-year agreements are retroactive to May 1, 2008.
The cost of the settlements does not differ materially from the final offer put forward by the company in July, protecting PotashCorp’s long-term cost structure at its operations. Specifically, the collective agreements do not contain “commodity-based bonuses” or bonuses based on PotashCorp net income.
Potash Corporation of Saskatchewan Inc. is the world’s largest fertilizer enterprise producing the three primary plant nutrients and a leading supplier to three distinct market categories: agriculture, with the largest capacity in the world in potash, second largest in nitrogen and third largest in phosphate; animal nutrition, with the world’s largest capacity in phosphate feed ingredients; and industrial chemicals, as the largest global producer of industrial nitrogen products and the world’s largest capacity for production of purified industrial phosphoric acid.