SASKATOON - Potash Corporation of Saskatchewan Inc. (PotashCorp) has been named one of Fortune Magazine's "top foreign stocks for 2008".
The magazine says PotashCorp stock is benefiting from the increasing demands on agriculture by the world's
prospering middle class, the growth in ethanol as a renewable fuel and the loss of agricultural land to industry.
"All that points to a bull market for fertilizing nutrients," Fortune's Yuval Rosenberg writes in an article published
in late December.
Headquartered in Saskatchewan, PotashCorp is one of five global companies listed in Fortune's Investor's Guide 2008 as a top foreign stock pick for this year. The others are Bank of Ireland, Mobile Telesystems, iShares MSCI Brazil Index and GlaxoSmithKline.
PotashCorp says Fortune's endorsement is another reminder of the company's status as a global leader.
"We are a global corporation proud to be headquartered in Saskatchewan," says Bill Doyle, PotashCorp's President and Chief Executive Officer. "This recognition by Fortune Magazine is evidence of the following we have from investors around the world".
PotashCorp is investing approximately $3.2 billion in Saskatchewan on projects to increase productive capability, including the new $1.8-billion mine and mill for Rocanville that was announced in November. The company's shares have increased in value by more than 5600% since it went public in 1989.
For further information, please contact:
Rhonda Speiss
Manager, Public Relations
Phone: (306) 933-8544 E-mail Rhonda
