TORONTO, ON – September 24, 2019 – Itafos (TSX VENTURE: IFOS) (the “Company”) announced today that it has launched its new line of premium products following the recent completion of initial production and sales of premium PK compound products as well as higher grade SSP.
The new premium products are in connection with the repurpose plan, which is aimed at optimizing Itafos Arraias’ finished fertilizer production with a multi-product portfolio of higher grade SSP (21% phosphate), micronutrient enhanced SSP (19% and 21% phosphate) and premium PK compound products. The repurpose plan is expected to significantly enhance Itafos Arraias’ competitive positioning and profitability while reducing its operational and environmental risk profile. To enable the repurpose plan, the Company has been procuring, and expects to continue to procure, higher grade phosphate rock from third parties.
“Producing premium PK compound products and higher grade SSP and micronutrient enhanced SSP demonstrates our ability to repurpose Itafos Arraias to focus on higher netback products and improve our margin profile,” said Dr. Mhamed Ibnabdeljalil, interim CEO of Itafos.