OKLAHOMA CITY, Okla.--(BUSINESS WIRE)--Mar. 16, 2015--
LSB Industries, Inc. (NYSE:LXU) (“LSB or “the Company”), a leading
producer of chemical products for the agricultural, mining and
industrial markets and a manufacturer of commercial and residential
climate control products, today announced that it has retained Spencer
Stuart, a prominent global executive search and consulting firm, to
launch a search for a President of its LSB Chemical Business. This newly
created position will be responsible for maximizing the operational
performance of the Company’s Chemical Business by driving process,
maintenance, safety and marketing best-practices throughout the
organization.
Barry Golsen, President and CEO of LSB, stated, “Over the past several
years, we’ve made significant enhancements to our chemical operations by
adding new management in key corporate and plant-level positions,
augmenting our engineering support and investing in technological and
mechanical upgrades to our facilities. Additionally, we currently have
major capital projects underway that will reduce our production costs,
expand our capacity and improve our product mix. Hiring an experienced
senior level executive to lead our Chemical Business is an important
next step in taking the progress we’ve made to the next level in order
to drive world class levels of on-stream time, production volume and
safety across all of our chemical facilities. The individual we plan to
hire will have a track record of success in managing multi-plant
chemical operations, as well as a strong background in managing
effective sales and marketing programs. We are pleased to be working
with Spencer Stuart, one of the world’s leading executive search firms,
to find the ideal candidate.”
The President of the Chemical Business will be a member of the Company's
senior management team.
About LSB Industries, Inc.
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
water source and geothermal heat pumps, hydronic fan coils, modular
chillers, large custom air handlers and make-up air units.
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”,
“should”, “estimates”, “projects”, or similar expressions, including,
without limitation, capital projects underway will reduce production
costs, expand capacity and improve product mix, and the new senior
executive for our Chemical Business is important in driving world class
levels of on-stream time, production volume and safety across all of our
Chemical facilities. Actual results may differ materially from the
forward-looking statements as a result of various future events,
including without limitation, the various factors described in the
“Special Note Regarding Forward-Looking Statements,” and the “Risk
Factors” contained in our most recent 10-K for the year ended December
31, 2014. These forward looking statements speak only as of the
date of this press release, and LSB expressly disclaims any obligation
or undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein to reflect any change in
LSB’s expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.
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
2015 Annual Meeting of Stockholders, including the election of directors.
LSB intends to file a preliminary and definitive proxy statement and
accompanying white proxy card with the U.S. Securities and Exchange
Commission (the “SEC”) in connection with any such solicitation of
proxies from LSB stockholders. LSB STOCKHOLDERS ARE STRONGLY
ENCOURAGED TO READ ANY SUCH PROXY STATEMENT AND OTHER PROXY MATERIALS AS
THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Information regarding the ownership of LSB’s directors and executive
officers in LSB stock, restricted stock and options is included in their
SEC filings on Forms 3, 4 and 5. More detailed information regarding the
identity of potential participants, and their direct or indirect
interests, by security holdings or otherwise, will be set forth in the
proxy statement and other materials to be filed with the SEC in
connection with LSB’s 2015 Annual Meeting. Information can also
be found in LSB’s Annual Report on Form 10-K for the year ended December
31, 2014, filed with the SEC on March 2, 2015. Stockholders will
be able to obtain any proxy statement, any amendments or supplements to
the proxy statement and other documents filed by LSB with the SEC for no
charge at the SEC's website at www.sec.gov.
Copies will also be available at no charge at LSB’s website at www.lsbindustries.com
or by contacting David M. Shear, General Counsel & Secretary at (405)
235-4546.
Source: LSB Industries, Inc.
LSB Industries, Inc.
Tony M. Shelby, Chief Financial Officer
Mark
Behrman, Senior Vice President, Corporate Development
405-235-4546
or
Investor
Relations:
The Equity Group Inc.
Fred Buonocore,
212-836-9607
Linda Latman, 212-836-9609