The Mosaic Company has announced it will temporarily close its Plant City phosphate processing plant at the end of the year. That comes despite the company reporting increased profits.
About 430 positions will be affected when Mosaic idles its Plant City factory for at least one year at the end of December. The plant has a capacity of producing up to two million tons of phosphate fertilizer every year.
In a conference call with investors, Joc O’Rourke, President and Chief Executive Officer, said Plant City is the most expensive of their Florida plants to operate.
"It requires a disproportionate amount of sustaining capital each year," O'Rourke said. "As a consequence of idling Plant City, we will be able to optimize our future capital investments and we can increase production at our most efficient Florida operations to offset a material portion of Plant City's output, should the market need more tons."
The plant is located on State R0ad 39, just south of the Pasco County line.
Company officials said to make room for the 430 positions affected, 100 positions weren't filled during a recent hiring freeze statewide at Mosaic's Florida operations, and 200 others are being offered early retirement.