LSB Industries, Inc. Announces That Its Agreement to Sell Its Climate Control Business to Nibe Industrier AB Has Obtained HSR Act Clearance from the U.S. Federal Trade Commission
About
LSB is a US-based manufacturing 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. LSB has been
listed since 1969 with its shares today being traded on
About NIBE
NIBE is an international heating technology company. Operations are
conducted within three business areas – NIBE Climate Solutions, NIBE
Element and NIBE Stoves – all of which work according to a single vision
of creating world-class solutions in sustainable energy. The group has
approximately 11,000 employees and operations in
Forward Looking Statement
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 “will”, “believes”, “expects”, “estimates”, “intends”, “anticipates”, “plans to”, “should”, “estimates”, “projects”, or similar expressions, including, without limitation, LSB’s plans and expectations with respect to the divestiture of CCB; pay down of debt; improved financial flexibility, capital structure, and chemical plant on-stream rates; enhanced reliability, performance, profitability and generation of cash flow from our facilities; and continued investment in improvement of plants.
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
expectation will prove to be correct. Actual results may differ
materially from the forward-looking statements as a result of various
factors, including, but not limited to: the possibility that the
transaction is delayed or does not close, including due to the inability
of LSB and NIBE to obtain all approvals necessary or the failure of
other closing conditions; general economic conditions; weather
conditions; increased costs to complete the El Dorado project; ability
to install necessary equipment and renovations at our Facilities in a
timely manner; changes to federal legislation or adverse regulations;
increased competitive pressures, domestic and foreign; ability to
complete transactions to address our leveraged balance sheet and cash
flow requirements; loss of significant customers; increased costs of raw
materials; and other factors set forth under “Risk Factors” and “Special
Note Regarding Forward-Looking Statements” in our Form 10-K for the year
ended
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Source:
LSB Industries, Inc.
Mark Behrman, 405-235-4546
Chief
Financial Officer
or
Investor Relations:
The
Equity Group Inc.
Fred Buonocore, 212-836-9607
Kevin Towle,
212-836-9620