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Itafos Inc V.IFOS

Alternate Symbol(s):  MBCF

Itafos Inc. is a phosphate and specialty fertilizer company. Its businesses and projects include Conda, Arraias, Farim, Santana and Araxa. Conda is a vertically integrated phosphate fertilizer business located in Idaho, United States with a production capacity of over 550 Kiloton (kt) per year of mono ammonium phosphate (MAP), merchant grade phosphoric acid (MGA) and ammonium polyphosphate (APP), and approximately 27kt per year of hydrofluorosilicic acid (HFSA). Arraias is a vertically integrated phosphate fertilizer business located in Tocantins, Brazil with a production capacity of approximately 500kt per year of single superphosphate (SSP) and SSP with micronutrients (SSP+). Farim is a phosphate mine project located in Farim, Guinea-Bissau. Santana is a vertically integrated high-grade phosphate mine and fertilizer plant project located in Para, Brazil. Araxa is a vertically integrated rare earth element and niobium mine and extraction plant project located in Minas Gerais, Brazil.


TSXV:IFOS - Post by User

Bullboard Posts
Post by kennethjwon Jun 09, 2015 3:34pm
310 Views
Post# 23812524

June 9 - Public Hearing Results against MBAC

June 9 - Public Hearing Results against MBACsource:
https://www.dinomarmiranda.com/2015/06/audiencia-publica-entre-justica-mbac-e.html?m=1

google translate:
Public hearing of Justice , MBAC and workers took place today in Rays ( TO) . Company assets will be auctioned

It happened this afternoon in the building of the Municipality of Manta, another public hearing between justice and MBAC Fertilizer and workers who were dismissed without any plausible justification.

This was the main defense made by prosecutors to explain what are the reasons for public civil action against the company because of all the damage caused to workers who either had their firing tests made by the company.

The meeting was not the way everyone expected this because according to the prosecution, although we can not say that all usurped labor rights of workers will be paid in a short time.

On this, the court said that the value of two and a half million that are locked to an account of a former administrator of the company was not, at least for now, available for the payment of all labor rights of workers.

What can be expected is that Justice is doing its utmost to minimize the loss of workers and is locked all the goods that have been discovered on behalf of the company, which is managed by four banks and not by one person.

Thus, there will be already on the 30th of June, in the city of Campos Belos Goiás, the auction of all machines that justice could grasp, where it will be taken the appeal to pay workers' rights.

Also will be auctioned soon, part of the land is owned by the company in the municipality of Rays (TO) for payments to be made as soon as possible.

Still on the locked feature on the account of a former administrator, the two and a half million reais will be used only to settle the debt of the same with the consent of that, that was what committed the company's lawyer.

The lawyer also said that the company is no financial conditions for any type of expenditure and it is being sold.

But there is still nothing concrete. He also said that working for the situation to be resolved as soon as possible, collaborating with the prosecution so that the situation is resolved soon.

About the dismissal exams, an agreement was signed at the request of prosecutors so that within a period of 60 days the company provide examinations for workers.

Accepting although it is by necessity the workers need to take the exam before that deadline, you do on your own and delivered receipts federation for the value to be charged within the process.

Anyway, the audience kept happening the next three days in the building of the electoral office.

These hearings are individually, unlike what happened today , it was collective .

What was clear to anyone who was present at the meeting was that the prosecution , the lawyers for the defense of workers and defense of their rights bodies are tirelessly seeking the solution to the problem caused by the company when it decided to send all workers on the street without the normal and lawsuits pantry.
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