Tampa Sulfur Moves Up
Tampa molten sulfur contracts have settled at $69/lt CFR for the fourth quarter, an increase of $11.50/lt from $57.50/lt CFR in Q3.
All Posts from October 6, 2020
K+S Agrees To Sell Americas Salt Business to Stone Canyon/Kissner For $3.2bn
K+S Group, Kassel, announced late yesterday that it had signed a contract to sell its Americas salt business to Stone Canyon Industries Holdings LLC, Mark Demetree and affiliates. K+S said the sales price (enterprise value) amounts to $3.2 billion and represents 12.5 times the Americas Operating Unit’s 2019 EBITDA of $257 million.
Stone Canyon Industries Holdings owns U.S. ice melt manufacturer and salt supplier, Overland Park, Kansas-headquartered Kissner Group Holdings LP, which it acquired in a buy-out this past April. K+S earlier in the day had confirmed it was in “very advanced” negotiations with Stone Canyon Industries.
K+S Chairman of the Board of Executive Directors, Burkhard Lohr, said with the sale of the Americas salt business, K+S “is taking a giant step in reducing debt”.
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