SASKATOON – Things are looking up for PotashCorp in Saskatchewan.
After a steep sales slump last year, executives say first-quarter earnings are high.
PotashCorp CEO Bill Doyle says this means more job stability and a better economy for Saskatchewan.
“We had a really early engagement with China, and India and also Latin America, Brazil…huge market for us,” said Doyle.
PotashCorp says sales in North America nearly doubled in its first-quarter.
“It’s been a good first half and we’ve been able to keep everybody employed which is what we always want to do of course,” said Doyle.
PotashCorp PCS Sales President Stephen Dowdle said this will mean fewer layoffs and more jobs.
“The company and the province are going to benefit because we are really in the best position to meet that challenge…as demand continues to grow,” said Dowdle.
The importance of matching supply and demand was also stressed at the gathering.
“If you over-produce, first of all, generally what happens is the prices go down, the tax revenue for the province goes down, the financial performance of the company obviously is less,” said Doyle.
He said one of the company’s biggest goals is to engage more First Nation and Métis communities. Doyle said 12 per cent of new hires have been aboriginal and he expects this number to grow.
Though executives said there will likely always be a low amount of cyclical layoffs in Saskatchewan, they said the new profits will help make the potash job market steady.
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