LSB Industries, Inc. Announces That Its El Dorado, Arkansas Facility Resumes Nitric Acid Production
During the nitric acid plant’s recent downtime, customer orders were satisfied utilizing product shipped from LSB’s other facilities with minimal financial impact. Expenses related to the construction of the temporary bypass system were recognized in the third and fourth quarters of 2016, which the Company expects to recoup, along with costs related to the installation of the new nitrous oxide abatement vessel, under the warranty provisions of the original nitrous acid plant construction contract.
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, impact of reduced production, lost fixed cost absorption and repair expenses to third and fourth quarters 2016 EBITDA; impact of lower sales from lower beginning inventory, reduced production, identification and completion of repairs and upgrades to deliver improved financial performance; and improvement of on-stream rates, translating into greater revenue and profit in the coming quarters.
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. These and other risk factors are discussed in the
Company’s filings with the
LSB Industries, Inc.
Mark Behrman, 405-235-4546
Chief Financial Officer
The Equity Group Inc.
Fred Buonocore, 212-836-9607
Kevin Towle, 212-836-9620