LSB Industries, Inc. Provides Update on its Pryor, OK Facility
February 16 2021 - 8:30AM
Business Wire
LSB Industries, Inc. (“LSB” or “the Company”), (NYSE: LXU),
today announced that on Friday, February 12, 2021 the Company
temporarily took its Pryor, OK facility (“Pryor”) out of service as
a result of a recent surge in natural gas prices that has taken
place in the region due to extremely cold temperatures. Also
related to the cold weather, the operator of the pipeline that
supplies natural gas to the Pryor facility is experiencing
significant weather related gas supply impacts and, as a result,
has curtailed gas distribution to commercial customers. LSB is
closely monitoring the situation and will re-start production at
Pryor as soon as natural gas prices and availability normalize.
LSB does not expect a material impact to its first quarter 2021
financial results due to Pryor’s temporary shutdown. However, the
longer natural gas prices persist at the current elevated levels
and/or gas availability remains constrained, the more significant
the potential impact to the Company’s financial results.
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 primarily throughout the United States.
Additional information about the Company can be found on its
website at www.lsbindustries.com.
Forward-Looking Statements
Statements in this release that are not historical are
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements, which are subject to known and unknown risks,
uncertainties and assumptions about us, may include projections of
our future financial performance including the effects of the
COVID-19 pandemic and anticipated performance based on our growth
and other strategies and anticipated trends in our business. These
statements are only predictions based on our current expectations
and projections about future events. There are important factors
that could cause our actual results, level of activity, performance
or actual achievements to differ materially from the results, level
of activity, performance or anticipated achievements expressed or
implied by the forward-looking statements. Significant risks and
uncertainties may relate to, but are not limited to, business and
market disruptions related to the COVID-19 pandemic, market
conditions and price volatility for our products and feedstocks, as
well as global and regional economic downturns, including as a
result of the COVID-19 pandemic, that adversely affect the demand
for our end-use products; disruptions in production at our
manufacturing facilities; and other financial, economic,
competitive, environmental, political, legal and regulatory
factors. These and other risk factors are discussed in the
Company’s filings with the Securities and Exchange Commission
(SEC).
Moreover, we operate in a very competitive and rapidly changing
environment. New risks and uncertainties emerge from time to time,
and it is not possible for our management to predict all risks and
uncertainties, nor can management assess the impact of all factors
on our business or the extent to which any factor, or combination
of factors, may cause actual results to differ materially from
those contained in any forward-looking statements. Although we
believe the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results,
level of activity, performance or achievements. Neither we nor any
other person assumes responsibility for the accuracy or
completeness of any of these forward-looking statements. You should
not rely upon forward-looking statements as predictions of future
events. Unless otherwise required by applicable laws, we undertake
no obligation to update or revise any forward-looking statements,
whether because of new information or future developments.
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version on businesswire.com: https://www.businesswire.com/news/home/20210216005453/en/
Company Contact: Mark Behrman, President & CEO Cheryl
Maguire, Executive Vice President & CFO (405) 235-4546
Investor Contact: The Equity Group Inc. Fred Buonocore,
CFA (212) 836-9607 Mike Gaudreau (212) 836-9620
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