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Related Party Transactions
 9 Months Ended
Sep. 30, 2012
Related Party Transactions
15. Related Party Transactions

The following summarizes the balances and transactions between the Company and (i) each of Armand Products Company (“Armand”) and The ArmaKleen Company (“ArmaKleen”) in which the Company holds a 50% ownership interest and (ii) Natronx Technologies LLC (“Natronx”), in which the Company holds a one-third ownership interest:

 

     Armand      ArmaKleen      Natronx  
     Nine Months Ended      Nine Months Ended      Nine Months Ended  
(In millions)    September 30,
2012		      September 30,
2011		      September 30,
2012		      September 30,
2011		      September 30,
2012		      September 30,
2011		  

Purchases by Company

    $ 17.8       $ 14.3       $ 0.0       $ 0.0       $ 0.0       $ 0.0   

Sales by Company

    $ 0.0       $ 0.0       $ 3.9       $ 4.1       $ 2.0       $ 0.0   

Outstanding Accounts Receivable

    $ 0.1       $ 0.3       $ 0.5       $ 1.6       $ 0.2       $ 0.0   

Outstanding Accounts Payable

    $ 2.2       $ 2.2       $ 0.0       $ 0.0       $ 0.0       $ 0.0   

Administration & Management Oversight Services (1)

    $ 1.2       $ 1.2       $ 1.6       $ 2.0       $ 0.7       $ 0.0   

 

(1) 

Billed by the Company and recorded as a reduction of selling, general and administrative expenses.

On September 22, 2011, the Company, together with FMC Corporation and TATA Chemicals, formed Natronx, an operating joint venture. The Company has a one-third ownership interest in Natronx, and its investment is accounted for under the equity method. The joint venture plans to engage in the manufacturing and marketing of sodium-based, dry sorbents for air pollution control in electric utility and industrial boiler operations. The sorbents, primarily sodium bicarbonate and trona, are used by coal-fired utilities to remove harmful pollutants, such as acid gases, in flue-gas treatment processes. Natronx intends to invest approximately $54 million to construct a 450,000 ton per year facility in Wyoming to produce trona sorbents, which is expected to be operational in the first quarter of 2013, the cost of which will be shared equally among all members. The joint venture started business in the fourth quarter of 2011 and the Company made an initial investment of $3.2 million in 2011 and an additional $9.0 million investment in the first nine months of 2012. The Company is committed to investing up to an additional $4.8 million in the remainder of 2012 and approximately $1 million in the first quarter of 2013.