OKLAHOMA CITY--(BUSINESS WIRE)--Dec. 6, 2017--
LSB Industries, Inc. (NYSE:LXU) (“LSB” or “the Company”) today announced
that the ammonia plant at its Pryor, Oklahoma chemical facility (“Pryor
Facility” or “Pryor”) resumed production on December 4, 2017. As
previously announced, Pryor was taken out of service to repair damage to
some of the ammonia plant’s electrical controls, wiring and piping
resulting from a fire that occurred on September 23, 2017.
Management expects that the EBITDA impact resulting from the expenses
related to the repairs and to upgrades made to reduce pipe stress that
will enable Pryor to skip its planned 2018 turnaround, the excess cost
of purchasing UAN versus producing it in order to meet customer
commitments, and the reduced absorption of fixed costs will be between
$5.5 million to $6.0 million for the fourth quarter of 2017.
About LSB Industries, Inc.
LSB Industries, Inc., headquartered in Oklahoma City, Oklahoma,
manufactures and sells chemical products for the agricultural, mining,
and industrial markets. The Company owns and operates facilities in
Cherokee, Alabama, El Dorado, Arkansas and Pryor, Oklahoma, and operates
a facility for a global chemical company in Baytown, Texas. LSB’s
products are sold through distributors and directly to end customers
throughout the United States. Additional information about the Company
can be found on its website at www.lsbindustries.com.
Forward Looking Statement
This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements generally are identifiable by use of
the words “may,” “believe,” “expect,” “intend,” “plan to,” “estimate,”
“project” or similar expressions, and include but are not limited to:
enhanced reliability at our Facilities; reducing costs; expanding into
new markets; reducing leverage and completing repairs on time and as
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
expectations 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 Securities and Exchange Commission (SEC), including
those set forth under “Risk Factors” and “Special Note Regarding
Forward-Looking Statements” in our Form 10-K for the year ended December
31, 2016 and, if applicable, our Quarterly Reports on Form 10-Q and our
Current Reports on Form 8-K. All forward-looking statements included in
this press release are expressly qualified in their entirety by such
cautionary statements. We expressly disclaim any obligation to update,
amend or clarify and forward-looking statement to reflect events, new
information or circumstances occurring after the date of this press
release except as required by applicable law.
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Source: LSB Industries, Inc.
LSB Industries, Inc.
Mark Behrman, Chief Financial Officer
The Equity Group
Fred Buonocore (212) 836-9607
Kevin Towle (212) 836-9620