OKLAHOMA CITY--(BUSINESS WIRE)--Jun. 29, 2016--
LSB Industries, Inc. (NYSE: LXU) (“LSB or the Company”) announced today
that its new 375,000 ton ammonia plant at its El Dorado, Arkansas
facility (“El Dorado”) has been producing ammonia at an average rate of
1,150 tons per day, the plant’s nameplate capacity, since June 22, 2016.
Since that date, El Dorado has been a net seller of ammonia, with all
ammonia that the facility has not upgraded into other products being
sold to Koch Fertilizer via pipeline under the previously announced
three-year offtake agreement.
Daniel Greenwell, LSB’s Chief Executive Officer, stated, “Attaining
nameplate capacity at our new ammonia plant is the culmination of a
multi-year expansion project at our El Dorado Facility, and we’d like to
thank and congratulate our team there for seeing the project through to
completion despite the challenges along the way. The addition of ammonia
production capabilities at El Dorado will be transformative to that
facility’s economics, which we expect to be reflected in LSB’s overall
financial performance in the second half of 2016.”
About LSB Industries, Inc.
LSB is a 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.
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, the addition of ammonia production capabilities at El
Dorado will be transformative to that facility’s economics and the
various factors described in the “Special Note Regarding Forward-Looking
Statements,” and the “Risk Factors” contained in our 10-K for the year
ended December 31, 2015, our Quarterly Reports on Form 10-Q and our
Current Reports on Form 8-K. 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.
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Source: LSB Industries, Inc.
LSB Industries, Inc.
Mark Behrman, 405-235-4546
Equity Group Inc.
Fred Buonocore, 212-836-9607