OKLAHOMA CITY--(BUSINESS WIRE)--May 6, 2014--
LSB Industries, Inc. (NYSE:LXU) (“LSB”) announced today that its Pryor,
Oklahoma chemical facility (“Pryor Facility”) ran its anhydrous ammonia
plant for the full month of April 2014 at its targeted production rate
of approximately 650 tons per day on average and has continued that into
May. As previously reported, the Pryor Facility’s anhydrous ammonia
plant returned to production during the last several days of February
2014 at a reduced rate and was gradually brought up to its targeted rate
during March. Additionally, in early May 2014, the Pryor Facility
resumed production of urea and UAN.
Jack Golsen, LSB’s Board Chairman and CEO stated, “The extensive work we
have performed to upgrade and improve the reliability of our Pryor
Facility is beginning to yield results. With the anhydrous ammonia plant
now producing at targeted rates, we can significantly increase LSB’s
output of urea and UAN, and capitalize on the market opportunities for
these products. While our upgrade of Pryor is not yet complete, we are
pleased with the progress we have made to date, and anticipate
meaningful improvement of the plant’s operating performance in the
future.”
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
geothermal and water source heat pumps, hydronic fan coils and modular
geothermal chillers, and large custom air handlers.
This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Act of 1995. These
forward-looking statements generally are identifiable by use of the
words “believe,” “expects,” “intends,” “plans to,” “estimates,”
“projects,” or similar expressions, and such forward-looking statements
include, but are not limited to, that the extensive work we have
performed to upgrade and improve the reliability of the Pryor Facility
is beginning to yield results, that we can significantly increase LSB’s
output of urea and UAN and capitalize on market opportunities for these
products, and that we will have meaningful improvement in the Pryor
Facility’s operating performance in the future. Investors are
cautioned that such forward-looking statements are not guarantees of
future performance and involve risk and uncertainties, and that actual
results may differ materially from the forward-looking statements, as a
result of various factors, including, without limitation, general
economic conditions, ability to obtain replacement and repair equipment
and parts in a timely manner, weather conditions, labor conditions,
equipment issues that arise from time to time, and other factors set
forth under “A Special Note Regarding Forward-Looking Statements” in our
Form 10-K for year ended December 31, 2013.
Source: LSB Industries, Inc.
Company:
LSB Industries, Inc.
Tony M. Shelby,
405-235-4546
Chief Financial Officer
or
Mark Behrman,
405-235-4546
Senior Vice President
or
Investor
Relations:
The Equity Group Inc.
Fred Buonocore,
212-836-9607
or
Linda Latman, 212-836-9609