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Strong Fertilizer Demand Drives SQM Profits

8:17 AM MST | November 23, 2011 | Lindsey Bewley

Sociedad Química y Minera de Chile (SQM) reported third-quarter net income of $143.2 million, up 51% from the year-ago quarter on sales up 25%, to $574.7 million. Earnings were driven by strong sales in the company’s lithium and fertilizer business units.   “SQM continues to see significant margin growth in its main business lines when compared to 2010, specifically in the specialty plant nutrition, potassium and iodine business lines,” says Patricio Contesse, CEO of SQM. “As expected, tight supply in the iodine and specialty...

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