Innophos, Inc. produces specialty grade phosphate products for food, pharmaceutical, and industrial markets in the United States and internationally. It offers asphalts, catalysts, fertilizer salts, liquid phosphate products, phosphate salts, phosphoric acids, polyphosphoric acids, and sodium bicarbonate products. The company’s products serve a range of applications, including water, paper and metal treatment, agriculture, electronics, textiles, tablets, meat preservation, and detergents. It offers its products through distributors. Innophos, Inc. was formerly known as Rhodia Speciality Phosphates and changed its name to Innophos, Inc. in August 2004. The company was founded in 2004 and is b...
259 Prospect Plains Road
Cranbury, NJ 08512
Founded in 2004
Innophos Investments Holdings, Inc. and Innophos, Inc. Enter into First Amendment to Credit Agreement
Dec 23 14
On December 18, 2014, Innophos Holdings, Inc., its wholly owned subsidiaries Innophos Investments Holdings, Inc. and Innophos, Inc., as Subsidiary Borrowers, and its wholly owned subsidiaries AMT Labs, Inc., Kelatron Corporation, Woody IV, LLC, Triarco Industries, LLC and Chelated Minerals International, LLC, as Guarantors (each a company and collectively, the companies), entered into a First Amendment to Credit Agreement with a group of lenders including Wells Fargo Bank, National Association, as administrative agent. The Amendment amends that certain Amendment and Restated Credit Agreement, dated as of December 21, 2012, between the Companies and the Lenders. The Amendment deletes the requirement that Restricted Payments be deducted from the Consolidated EBITDA for purposes of determining the Fixed Charge Coverage Ratio. The Amendment provides the companies with additional flexibility to make certain Restricted Payments (as defined in the Credit Agreement), including the repurchase by the company of its stock, provided that the Companies satisfy certain financial requirements. These requirements include, after giving effect to Restricted Payments in question: (a) maintenance of the following consolidated ratios: (i) Total Leverage Ratio less than or equal to 2.50 to 1.00; (ii) Senior Leverage Ratio less than or equal to 2.00 to 1.00; and (iii) Fixed Charge Coverage Ratio greater than or equal to 1.25 to 1.00; and (b) Accessible Borrowing Availability of at least $25 million. As of the close of the last reporting period under the Credit Agreement (September 30, 2014), the company's Total Leverage Ratio, Senior Leverage Ratio and Fixed Charge Coverage Ratio calculated in accordance with the Credit Agreement were 0.91, 0.91 and 3.74 to 1.00, respectively, and, at the date of entering into the Amendment, the Accessible Borrowing Availability was approximately $188 million.
Specialty Phosphates Reports Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Year 2014
Apr 28 14
Specialty Phosphates reported earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net sales of $195.499 million against $189.907 million a year ago. Operating income was $26.074 million against $11.448 million a year ago.
The company announced full year 2014 target of 3-5% volume growth for the company and a 14-15% operating income margins.