clock menu more-arrow no yes

Filed under:

MORTON SIGNS AGREEMENT FOR KENNECOTT TO BUY FACILITY

Morton International said it has signed an agreement for Kennecott to acquire Morton's Saltair facility.

As reported Wednesday, Morton has also agreed to acquire the North American Salt Co.'s Grantsville solar salt operation.Terms were not disclosed.

Morton said the transaction is conditional on government approvals and the approval of directors of the three companies. It is expected to be completed in late September.

William E. Johnston, president of Morton Salt, said the company has been producing solar salt from the Great Salt Lake since the turn of the century but its ability to expand capacity at the Saltair facility has been limited.

"We will move aggressively to make substantial investments to improve operations at the Grantsville facility . . . " said Johnston.

Solar salt is a high grade of salt used for water conditioning, agricultural and industrial purposes. Johnston said there will be no disruption in supplying salt for its customers.