Innophos, Nutrien reach new Purified Phosphoric Acid supply agreement

Innophos Holdings, Inc. (NASDAQ: IPHS) recently announced that it has entered into a three-year Purified Phosphoric Acid ("PPA") supply agreement with Nutrien, a global agriculture leader that was formed in January 2018 with the merger of Agrium and PotashCorp, the former parent company of PCS Purified Phosphates. The new contract replaces the existing long-term supply agreement set to expire in July 2018.

Under the terms of the agreement, which will go into effect as of July 30, 2018, Nutrien will continue to supply Innophos with PPA, a key raw material in the manufacture of the Company's phosphate product portfolio. The third-party supply agreement supplements the Company's internal PPA production and ensures security of supply, enabling Innophos to continue to serve its customers with best-in-class products.

"The new PPA agreement with Nutrien is an important step forward in sustaining Innophos' leadership position and supporting our commitment to provide our customers with our market-focused specialty phosphate portfolio serving the Food, Health, Nutrition and Industrial Specialties end markets," said Kim Ann Mink, Ph.D., Chairman, President and Chief Executive Officer.

"By securing ongoing access to a high-quality, external supply of PPA from Nutrien, we are able to supplement our internal PPA capacity in order to efficiently serve our valued customer base without interruption. As part of our broader strategic manufacturing optimization initiative, we continue to evaluate additional opportunities to further optimize the security and cost profile of our supply chain over the long-term," said Mink.