Incitec Pivot is closing a Victorian phosphate factory at the cost of $13 million and has flagged another $20 million earnings hit, this time from the dry weather across the eastern states.
The chemicals and fertiliser manufacturer says it will close its Portland facility in May and consolidate operations into its Geelong site, almost 300 km away.
The $13 million cost will be included in its full-year results, which will also show the effect of dry weather across pasture, summer and winter cropping regions during the first half - as well as the previously flagged $100 million impact of the rail outage caused by February's Queensland floods.
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