OKLAHOMA CITY--(BUSINESS WIRE)--Oct. 16, 2017--
LSB Industries, Inc. (NYSE: LXU) (“LSB” or “the Company”) today
announced that the ammonia plant at its El Dorado, Arkansas chemical
facility (“El Dorado Facility” or “El Dorado”) was taken out of service
on October 3, 2017 to make mechanical repairs to the burner refractory
system on the boiler which were completed on October 8, 2017. Following
the work on the boiler, the Company determined that repairs on a process
heat exchanger were necessary. LSB management has determined that the
repairs to the heat exchanger will be completed, and ammonia production
will resume by October 23, 2017.
The Company expects to meet all customer commitments for sales in the
fourth quarter of 2017 and estimates that the EBITDA impact resulting
from the repair expenses and the reduced absorption of fixed costs
related to the collective period of downtime will be approximately $2.5
million to $3.0 for the fourth quarter of 2017.
LSB will provide an update on the progress of the repairs at El Dorado
and earlier announced Pryor repairs and the impacts of the downtime on
financial results when the Company reports third quarter 2017 results in
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, 405-235-4546
Equity Group Inc.
Fred Buonocore, 212-836-9607