Chemtrade Plans Sale of Potassium and Adjuvant Units
Chemtrade Logistics Income Fund, Toronto, reports that it plans to sell its Potassium Chloride and Vaccine Adjuvant businesses, though a buyer has yet to be found. It said these businesses generated some C$14 million in adjusted EBITDA for the year ending June 30, 2019. The Potassium Chloride business, based in Midlothian, Texas, produces high-purity product used for the pharmaceuticals, food and metal refinement. Major competitors are listed as Morton Salt Inc., Dead Sea Works and Klinge Chemicals Ltd.
In other news, Chemtrade reported a second-quarter net loss of $57.6 million on revenue of $396.7 million compared to the year-ago loss of $50.4 million and $405.3 million.