June 15, 2011 / 11:13 AM / 6 years ago

UPDATE 1-Compass Minerals to nearly double magnesium chloride output

* Says to increase capacity to 1 mln tons from 550,000 tons

* Says capacity increase to be completed by 2015

* Says no extra investments required (Follows alerts) June 15 (Reuters) - Compass Minerals International Inc plans to nearly double its magnesium chloride output capacity to one million tons by 2015, and said it will not require any additional investment to do so.

The provider of highway de-icing salt and specialty fertilizer currently produces 550,000 liquid tons of magnesium chloride.

Kansas City-based Compass, which is the largest producer of magnesium chloride in North America, said the additional production of the salt will be available incrementally.

Shares of the company, which have risen about 10 percent in the past one year, closed at $87.17 Tuesday on the New York Stock Exchange. (Reporting by Arup Roychoudhury in Bangalore; Editing by Joyjeet Das)

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