Itafos Inc V.IFOS

Alternate Symbol(s): MBCF

Chemicals Chemicals

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.

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Itafos Inc

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Comment by kisstopherpon Aug 25, 2015 10:06am

142 Views

Post# 24048613

RE:RE:With the auction ...

freebarryboys wrote: I'm no lawyer but how can the government take assets that have been pledged as security to the lenders?

Lenders who I assume are well supported legally.

You can't sell someone's else assets. The assets don't belong to MBAC but the lenders. They stopped it once and I'm sure they will get it stopped again.

My question is why have only 120 cases been settled? They have been at this for 6 months. All 370 should have long been resolved. The employees are entilted to by law recieve severance - They have money set aside to resolve this as well.

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