OKLAHOMA CITY--(BUSINESS WIRE)--Sep. 28, 2015--
LSB Industries, Inc. (NYSE:LXU) (“LSB” or the “Company”) today announced
that its Pryor, Oklahoma chemical facility (“Pryor Facility” or “Pryor”)
has resumed production of ammonia on September 23, 2015. On September 3,
2015 the Company announced that Pryor had been taken out of service for
unplanned maintenance in early August as a result of mechanical issues
that occurred during restart following the facility’s planned annual
turnaround, which took place throughout much of July.
LSB estimates that the periods of downtime at Pryor in August and
September will reduce third quarter 2015 sales volumes of UAN and
ammonia by a total of approximately 35,000 to 40,000 tons and 7,000 to
10,000 tons, respectively, while lowering operating income by a total of
approximately $9.5 million to $10.0 million, which includes lost profit,
unabsorbed overhead expenses and costs of repair.
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.
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, the impact of the Pryor
Facility’s unplanned outage on operating income, the anticipated effect
on third quarter 2015 Chemical Business sales volume, 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, 2014, and Form 10-Q for quarter ended June 30,
2015. 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150928005725/en/
Source: LSB Industries, Inc.
LSB Industries, Inc.
Mark Behrman, 405-235-4546
Equity Group Inc.
Fred Buonocore, 212-836-9607