Mississippi Phosphates Corporation Announces Contract Extension
July 10 2012 - 4:15PM
Business Wire
Mississippi Phosphates Corporation (MPC), a wholly owned
subsidiary of Phosphate Holdings, Inc. (OTC: PHOS), today announced
that it and OCP S.A. (OCP) have agreed to extend the term of their
Agreement for the Purchase and Sale of Phosphate Rock dated
August 27, 2009, through December 31, 2012. The Agreement was
scheduled to expire on June 30, 2012. During the
six-month extension, MPC intends to enter into discussions with OCP
relating to the terms and conditions of a potential longer-term
arrangement for the supply of phosphate rock to Mississippi
Phosphates’ Pascagoula, Mississippi plant.
Mississippi Phosphates Corporation is a Delaware corporation
with its executive headquarters in Madison, Miss. Mississippi
Phosphates Corporation owns and operates manufacturing facilities
in Pascagoula, Miss., which produce diammonium phosphate, the most
common form of phosphate fertilizer used as a source of phosphate
on all major row crops (www.missphosphates.com).
Forward-looking Statements
This release contains “forward-looking statements” within the
meaning of the federal securities law, which are intended to
qualify for the safe harbor from liability provided thereunder. All
statements which are not historical statements of fact are
“forward-looking statements” for purposes of these provisions and
are subject to numerous risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in the forward-looking statements. Future events, risks and
uncertainties that could cause a material difference in such
results include, but are not limited to, (i) changes in
matters which affect the global supply and demand of phosphate
fertilizer products, phosphate rock, ammonia, sulfur and sulfuric
acid, (ii) a variety of conditions in the agricultural
industry such as grain prices, planted acreage, projected grain
stocks, U.S. government policies, weather, and changes in
agricultural production methods, (iii) changes in the availability
and cost of phosphate rock and our other primary raw materials,
(iv) changes in capital markets, (v) possible unscheduled
plant outages and other operating difficulties, (vi) price
competition and capacity expansions and reductions from both
domestic and international competitors, (vii) the concentration of
our sales with one large customer, (viii) foreign government
agricultural policies (in particular, the policies of the
governments of India and China), (ix) the relative
unpredictability of international and local economic conditions,
(x) international trade risks, (xi) political unrest in Northern
Africa and possible implications on phosphate rock availability
(xii) the relative value of the U.S. dollar,
(xiii) regulations regarding the environment and the sale and
transportation of fertilizer products, (xiv) our potential
inability to obtain or maintain required permits and governmental
approvals or to meet financial assurance requirements, (xv) loss of
key members of management, and (xvi) impact of future storms.
The Company undertakes no obligation to update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
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