WHAT: Protest by striking miners at Potash Corporation of Saskatchewan
WHERE: London Analysts Meeting, Trinity House, Trinity Square, Tower
Hill, London, UK
WHEN: 8 am, Tuesday, 23rd September
LONDON, Sept. 22 /CNW/ - Members of the United Steelworkers' (USW) from
the Canadian province of Saskatchewan, on strike for a month against the
Potash Corporation of Saskatchewan (PotashCorp), will attend the company's
2008 London Analyst Meeting on Tuesday morning, Sept. 23.
The strikers want a fair share for union members and for the people of
Saskatchewan as PotashCorp are making enormous profits thanks to record prices
for mineral potash. The steelworkers will outline PotashCorp's performance
since the strike began in late July and information will be distributed
warning analysts and investors about the actions of PotashCorp's President,
Bill Doyle and Executive Vice President/ Chief Financial Officer Wayne
Brownlee, who will conduct the meeting.
Investors need to understand that PotashCorp is responsible for this
dispute and is in a position to resolve it. Brownlee said the company plans to
boost capacity to try and fill the gap, but that will be impossible if the
current labour dispute continues.
Picket lines have been up for over a month and attempts to restart
production at one site using management personnel have been no substitute for
In the second quarter of 2008, PotashCorp reported an after-tax profit of
$905-million. This quarterly profit equals a weekly profit of $70-million.
These figures imply that each week of the strike is costing PotashCorp about
$14-million in lost profits.
USW members will be supported by Unite, the UK's largest trade union,
under the banner of Workers Uniting, the recently formed international super
Steelworkers are urging PotashCorp to get back to the bargaining table
and work towards ending the strike.
Notes to Editors:
The United Steelworkers (USW), North America's largest private sector
union, and Unite the Union, the largest labour organiZation in the United
Kingdom and Ireland, have signed an agreement clearing the way for the
creation of Workers Uniting, the world's first global union representing over
three million working people from every industrial sector in Britain, Ireland,
the USA, Canada and the Caribbean.
Unite the Union is the UK's largest trade union representing more than
two million workers in over 24 industrial sectors.
The USW is North America's most diverse union, representing more than
850,000 men and women working in every sector of the economy.
For further information:
For further information: Ashraf Choudhury in the Unite Press Office on
020 7420 8914 or 07980 224 761