During this period of instability in price and availability of elemental phosphorus
, Albemarle may need to pursue further price adjustments with little notice, as contracts allow, in order to assure continuity of supply," Donkers said.
Astaris will cease production of elemental phosphorus at the Pocatello plant by no later than the end of this year.
Continuing cost pressures on elemental phosphorus have reinforced the relative cost advantage of PPA, which has resulted in this decision.
Under the terms of the long-term agreement, Astaris will be the sole supplier of elemental phosphorus for use in demonstration and commercial installations of THERMALONOx(TM) for the removal of nitrogen oxides (NOx) emissions at large fossil fuel burning plants, heavy industry and other applications.
Astaris is North America's largest producer of elemental phosphorus, with total annual sales of US$600 million, total employment of 1,200 and operates a 260 million lb/year (108 million kg/year) elemental phosphorus production facility in Pocatello, Idaho.
NYSE: SOI) confirms that Astaris LLC, a 50/50 joint venture between Solutia and FMC Corporation, will cease production at its remaining elemental phosphorus
production facility, located in Pocatello, ID, by the end of 2001.
Phosphorus chemicals sales and profits were up on higher sales of elemental phosphorus
From 1950 to 1981, the plant manufactured elemental phosphorus
from phosphate ore.