LSB Industries, Inc. Announces That Its Pryor, Oklahoma Facility Resumes Production
December 06 2017 - 4:05PM
Business Wire
LSB Industries, Inc. (NYSE:LXU) (“LSB” or “the Company”) today
announced that the ammonia plant at its Pryor, Oklahoma chemical
facility (“Pryor Facility” or “Pryor”) resumed production on
December 4, 2017. As previously announced, Pryor was taken out of
service to repair damage to some of the ammonia plant’s electrical
controls, wiring and piping resulting from a fire that occurred on
September 23, 2017.
Management expects that the EBITDA impact resulting from the
expenses related to the repairs and to upgrades made to reduce pipe
stress that will enable Pryor to skip its planned 2018 turnaround,
the excess cost of purchasing UAN versus producing it in order to
meet customer commitments, and the reduced absorption of fixed
costs will be between $5.5 million to $6.0 million for the fourth
quarter of 2017.
About LSB Industries, Inc.
LSB Industries, Inc., headquartered in Oklahoma City, Oklahoma,
manufactures and sells chemical products for the agricultural,
mining, and industrial markets. The Company owns and operates
facilities in Cherokee, Alabama, El Dorado, Arkansas and Pryor,
Oklahoma, and operates a facility for a global chemical company in
Baytown, Texas. LSB’s products are sold through distributors and
directly to end customers throughout the United States. Additional
information about the Company can be found on its website at
www.lsbindustries.com.
Forward Looking Statement
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements generally are
identifiable by use of the words “may,” “believe,” “expect,”
“intend,” “plan to,” “estimate,” “project” or similar expressions,
and include but are not limited to: enhanced reliability at our
Facilities; reducing costs; expanding into new markets; reducing
leverage and completing repairs on time and as estimated.
Investors are cautioned that such forward-looking statements are
not guarantees of future performance and involve risk and
uncertainties. Though we believe that expectations reflected in
such forward-looking statements are reasonable, we can give no
assurance that such expectations will prove to be correct. Actual
results may differ materially from the forward-looking statements
as a result of various factors. These and other risk factors are
discussed in the Company’s filings with the Securities and Exchange
Commission (SEC), including those set forth under “Risk Factors”
and “Special Note Regarding Forward-Looking Statements” in our Form
10-K for the year ended December 31, 2016 and, if applicable, our
Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K.
All forward-looking statements included in this press release are
expressly qualified in their entirety by such cautionary
statements. We expressly disclaim any obligation to update, amend
or clarify and forward-looking statement to reflect events, new
information or circumstances occurring after the date of this press
release except as required by applicable law.
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version on businesswire.com: http://www.businesswire.com/news/home/20171206006100/en/
LSB Industries, Inc.Mark Behrman, Chief Financial
Officer(405) 235-4546orInvestor Relations:The Equity Group
Inc.Fred Buonocore (212) 836-9607Kevin Towle (212) 836-9620
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