PotashCorp reports firstquarter profit down cuts guidance for the year

by The Canadian Press Posted Apr 28, 2016 4:52 am MDT Last Updated Apr 28, 2016 at 6:00 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email PotashCorp reports first-quarter profit down, cuts guidance for the year SASKATOON – Potash Corp. of Saskatchewan Inc. (TSX:POT) cut its earnings guidance for the year as it reported Thursday a sharp drop in its profit for its latest quarter.The company said it was hurt by weaker prices for potash and nitrogen as well as lower offshore potash sales volumes.PotashCorp, which keeps its books in U.S. dollars, said it earned US$75 million or nine cents per diluted share for its first-quarter, down from $370 million or 44 cents per diluted share a year ago.Sales fell to $1.21 billion compared with $1.67 billion in the first three months of 2015.The company cut its full-year earnings guidance to 60 cents to 80 cents per share compared with an estimate in January for earnings between 90 cents and $1.20 per share for the year.PotashCorp also lowered its capital spending guidance by $100 million to between $700 million and $800 million.“Lower prices for all nutrients weighed on our performance for the quarter and contributed to a more subdued outlook for the year,” PotashCorp chief executive Jochen Tilk said in a statement.“We see better conditions for the remainder of 2016, but recognize that the timing and strength of a recovery is still unfolding.” read more

Determining the best slurry system solution for your operation

first_imgGIW Industries’ Slurry Loop demonstration provides visitors to the company’s booths at exhibitions a live close-up view of the slurry process that they could never witness in normal operations. The Slurry Loop, a portable pipe system modelled in clear plastic tubing, provides a way to see how the physics of particle transport works inside a slurry system. The next demonstration will be at the CIM 2015 Convention in Montreal, May 10-13.GIW’s resident slurry pump expert Reab Berry usually conducts the demonstrations, which highlight three essential concepts of particle transportation in pipelines:Small particle transport — Surprisingly, not large particles, but small particles the size of beach sand are the most difficult to pump.Cyclone operation — In the clear loop, a miniature cyclone demonstrates how particle separation happens inside a slurry system.Incline pipelines — In a moveable section of the model, visitors see how surging occurs in an inclined section of a pipeline.The demonstration highlights essential concepts of particle transportation in pipelines.Berry, who is an experienced trainer with more than 50 years in the industry, says “this demonstration has a high appeal to a wide variety of attendees, including customers, equipment representatives, potential customers, operators, plant managers, professors, consultants, a lot of students — and a few competitors.”Providing an open forum for training and education is a core value of GIW Industries. Throughout its history, the company has offered formal training courses in slurry transport and pump maintenance, and regularly partners with universities and standards organizations to create documentation and train students. The company actively integrates training into all aspects of its customer service. And the GIW Hydraulic Lab is an internationally known research centre that continually brings the industry ground-breaking developments in computerised methods for pump selection and slurry wear analysis, and numerous advancements in slurry pump and pipeline technology.last_img read more