Bartow, Fla.-The Mosaic Co. has reached an agreement with the union representing employees at its New Wales phosphate processing plant in Central Florida, avoiding a potential strike, according to a Mosaic spokesman. Avoiding the strike was especially important to the company considering the high price of phosphates and the shortage of worldwide supply. The agreement will provide workers with a 3 percent increase in wages each year for the next three years and a new pension plan, but will put a cap on the contribution to the employees’ health care plan, the spokesman said. The pension plan would become a voluntary 401K type, rather than the existing defined benefit plan. Essentially, the company gave in somewhat to the higher pay rates and the pension plan, while the union moved more in the direction the company sought for medical costs, the spokesman said.
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