LSB Industries Comments on Letter from Engine Capital
The Company issued the following statement:
We are disappointed that
LSB’s Board of Directors and management team currently hold an ownership stake of approximately 19% of the Company, including convertible preferred stock, and our interests are aligned with shareholders. Accordingly, the Board and management team remain returns-focused and committed to executing on the Company’s strategic plan. LSB believes in its ability to drive growth and value creation for all shareholders.
As noted in our public statement released earlier today, the Company has
resumed ammonia production at its
About
LSB is a manufacturing and marketing company. LSB’s principal business activities consist of the manufacture and sale of chemical products for the agricultural, mining, and industrial markets, and the manufacture and sale of commercial and residential climate control products, such as geothermal and water source heat pumps, hydronic fan coils and modular geothermal chillers, and large custom air handlers.
Forward-Looking Statements
This press release includes certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements generally are identified by use of the words
“believes”, “expects”, “intends”, “anticipates”, “plans to”,
“estimates”, “projects”, or similar expressions, including, without
limitation, drive growth and value creation. Actual results may differ
materially from the forward-looking statements as a result of various
future events, including without limitation, general economic
conditions, weather conditions, equipment reliability, growth in the
construction industry in both commercial and residential areas, federal
and statement governmental regulatory requirements and “Risk Factors”
contained in the Company’s most recent 10-K and Forms 10-Q for quarters
ended
Important Additional Information
LSB, its directors and certain of its executive officers may be
deemed to be participants in the solicitation of proxies from LSB
stockholders in connection with the matters to be considered at LSB’s
2014 Annual Meeting. LSB intends to file a proxy statement with
the
Source:
Company Contact:
For LSB Industries, Inc.
Tony M. Shelby,
405-235-4546
Chief Financial Officer
or
Investor
Relations Contact:
Joele Frank, Wilkinson Brimmer Katcher
Tim
Lynch / Sharon Stern, 212-355-4449