UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 27, 2005
Commission File Number 001-31921
COMPASS MINERALS INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Delaware 36-3972986
(State or other jurisdiction of incorporation (I.R.S. Employer
or organization) Identification Number)
9900 West 109th Street
Suite 600
Overland Park, KS 66210
(913) 344-9200
(Address of principal executive offices and telephone number)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240-13e-4(c))
ITEM 7.01 REGULATION FD DISCLOSURE.
On September 27, 2005 Compass Minerals International, Inc. (the "Company")
issued the attached press release (Exhibit 99.1) regarding the effects of
Hurricanes Katrina and Rita on its highway deicing business and the results of
its highway deicing bid season.
The following provides an overview of the status of the Company's mine in Cote
Blanche, Louisiana and the Company's current expectations:
o The Company's mine in Cote Blanche, Louisiana was unharmed by the
hurricanes. The mine was closed for several days, but is now operating
normally.
o Due to hurricane-related barge delays, the Company expects to decrease rock
salt production at its Cote Blanche mine by 75,000 to 200,000 tons compared
to its planned production for the 2005-2006 winter season.
o Barring unexpected supply-chain disruptions, the Company currently
anticipates that it will be able to meet its bid commitments for the
upcoming season by adjusting its logistics strategy.
o The volume of the Company's highway deicing bid awards for the 2005-2006
winter season is similar to its awards for the 2004-2005 season. Bid awards
represent the customers' best estimates of their winter-season salt needs.
Actual sales may vary substantially from bid awards. Compass sold 9.2
million tons of rock salt to North American highway deicing and industrial
customers in 2004, which was a year with modestly above-average snowfall in
the markets Compass serves.
o The Company has completed approximately 95 percent of its bid process for
the 2005-2006 winter season and, to date, has averaged an eight percent
increase in its bid price per ton. The actual average price per ton-sold
may vary depending on snowfall patterns. Due to the variability of
potential sales volumes and average sales prices, the Company does not
provide revenue forecasts.
o The bid price includes the cost of transportation, and the Company
currently estimates that increased diesel fuel and transportation costs
will fully offset this year's bid price improvement.
In accordance with General Instruction B.2. of Form 8-K, the information
included or incorporated in this report, including Exhibit 99.1, is being
furnished to the Securities and Exchange Commission and shall not be deemed
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended, nor shall it be deemed incorporated by reference in any filing under
the Securities Act of 1933, as amended.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits:
Exhibit No. Document
99.1 Press release dated September 27, 2005
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
COMPASS MINERALS INTERNATIONAL, INC.
Date: October 3, 2005 /s/ Rodney L. Underdown
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Rodney L. Underdown
Chief Financial Officer