Chemtrade Logistics Income Fund reported Feb. 27 that it entered into a definitive agreement Feb. 24 to sell its International business segment to Mitsui & Co. Ltd.
In other news, for the year ending Dec. 31, 2016, Chemtrade reported a net loss from continuing operations of C$1.2 million compared to 2015’s loss of $58 million. Revenues dropped to $1.1 billion, down $60.2 million from 2015. The company said the decrease was due to lower selling prices for sulfur and sulfuric acid.
Intrepid Potash Inc. reported an adjusted net loss of $14.5 million on sales of $42.2 million for the fourth-quarter ending Dec. 31, 2016, an improvement over the year-ago loss of $20.1 million and sales of $42.8 million.
The company said 2016 was a transitional year as the company streamlined its business to focus on lower-cost solar potash and its specialty Trio product.
Full-year adjusted losses were $61.9 million on sales of $210.9 million, up from 2015’s $22.9 million and $287.2 million, respectively.
The company cited increased sales volumes on lower prices for both the quarter and the year, though it noted that it saw both improved demand and pricing in the fourth quarter.
The company retained Cantor Fitzgerald in December to assist it with its strategic options.
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