OKLAHOMA CITY--(BUSINESS WIRE)--Aug. 2, 2016--
LSB Industries, Inc. (NYSE:LXU) (“LSB” or the “Company”) today announced
that John Diesch has been named Executive Vice President-Manufacturing
effective August 1, 2016. Mr. Diesch, who takes over the role from
Richard Sanders, a Director of the Company’s Board who served as Interim
Executive Vice President, Chemical Manufacturing since September 29,
2015, will oversee all plant operations and will report to Daniel
Greenwell, LSB’s Chief Executive Officer.
“John is an excellent addition to our senior leadership team,” commented
Daniel Greenwell. “His extensive experience with nitrogen manufacturing
operations makes him highly qualified to advance the initiatives that we
have underway to maximize the performance of all of our facilities. On
behalf of our Board, I’d like to welcome John to LSB.”
Mr. Greenwell continued, “We would also like to thank Richard Sanders
for his major contributions to the Company during his ten months as the
interim head of our chemical operations, which included the oversight of
the critical final phases of construction and startup of the new ammonia
plant at our El Dorado, Arkansas facility, and the improved performance
of our other chemical operations, particularly our Pryor, Oklahoma
facility.”
About John Diesch
Mr. Diesch served as President and was a member of the board of
directors of Rentech Nitrogen GP, LLC from 2011 until April 2016. From
2008 to 2013, he held the position of Senior Vice President of
Operations at Rentech, where he was responsible for operations at
Rentech’s facilities as well as its Product Demonstration Unit in
Commerce City, Colorado. From 2006 to 2008, Mr. Diesch served as
President of RNLLC (formerly REMC) and Vice President of Operations for
Rentech. Before that, he was Managing Director of Royster-Clark
Nitrogen, Inc. from 1999 to 2006, and previously served as Vice
President and General Manager of nitrogen production and distribution
for IMC AgriBusiness Inc., an agricultural fertilizer manufacturer. In
1991, Mr. Diesch joined Vigoro Industries Inc., a manufacturer and
distributor of potash, nitrogen fertilizers and related products, as
North Bend, Ohio Plant Manager after serving as Plant Manager,
Production Manager and Process Engineer with Arcadian Corporation, a
nitrogen manufacturer, Columbia Nitrogen Corp., a manufacturer of
fertilizer products, and Monsanto Company, a multinational agricultural
biotechnology corporation. Mr. Diesch was a member of the board of
directors of the Fertilizer Institute, a former member of the board of
directors of the Gasification Technologies Council and previously served
as director of the Dubuque Area Chamber of Commerce, and was recently
management Chairman of the Board for the Dubuque Area Labor Management
Council. Mr. Diesch holds a Degree in Chemical Engineering and
Environmental Studies from the University of Minnesota and Bemidji State
University.
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 may include 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, 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: general economic conditions;
weather conditions; 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 December 31, 2015 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 any forward-looking
statement to reflect events, new information or circumstances occurring
after the date of this press release except as required by applicable
law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160802005638/en/
Source: LSB Industries, Inc.
LSB Industries, Inc.
Mark Behrman, 405-235-4546
Chief
Financial Officer
or
Investor Relations:
The
Equity Group Inc.
Fred Buonocore, 212-836-9607
or
Kevin
Towle, 212-836-9620