Compass Minerals, Overland Park, Kan., said on Feb. 16 it has initiated a strategic separation of its Plant Nutrition South America assets into two businesses, chemicals and specialty plant nutrition, with the intention of enabling a targeted and efficient sales process to unlock maximum value for each set of assets. It said both processes are currently underway.
Compass announced in February 2020 that it was eyeing strategic options for the South American unit (GM Feb. 14, 2020). However, while plans remained on the table, they slowed with the onset of COVID-19.
The company said should the transactions be completed, it expects to use the proceeds to reduce leverage, further enhance liquidity, and continue to focus on meeting customer demand for the company’s essential products.