LSB INDUSTRIES SUBSIDIARY ANNOUNCES RESTART OF PRYOR PLANT
Oklahoma City, Oklahoma – October 11, 2010 - LSB Industries, Inc. ("LSB" or the "Company"), (NYSE: LXU) announced today that its subsidiary, Pryor Chemical Company ("Pryor"), located in Pryor, Oklahoma has restarted production of anhydrous ammonia following a shut-down due to a pipe failure resulting in a fire in June of this year that damaged the ammonia plant’s primary reformer. At present, repairs have been completed and anhydrous ammonia is being produced at Pryor in accordance with our restart plan. The nitric acid and urea plants will be activated to produce urea ammonium nitrate in proper sequence to meet anticipated customer orders.
LSB is a manufacturing, marketing and engineering company. LSB’s principal business activities consist of the manufacture and sale of commercial and residential climate control products, such as geothermal and water source heat pumps, hydronic fan coils, large custom air handlers, the manufacture and sale of chemical products for the mining, agricultural and industrial markets, and the provision of specialized engineering services and other activities. LSB Industries is included in the Russell 2000 Index and the Russell 3000 Index.
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 "believes," "expects," "intends," "anticipates," "plans to," "estimates," "projects," or similar expressions, and include, but not limited to, "the nitric acid and urea plants will be activated to produce urea ammonium nitrate acid in proper sequence and in time to meet anticipated customer orders." 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, but not limited to, general economic conditions, changes to federal legislation or adverse regulations, available working capital, weather conditions, ability to install necessary equipment and renovations at the Pryor facility in a timely manner, and other factors set forth under "A Special Note Regarding Forward-Looking Statements" contained in the Form 10-K for year ended December 31, 2009 and Forms 10-Q for the three months ended March 31, 2010 and June 30, 2010, for a discussion of a variety of factors which could cause the future outcome to differ materially from the forward-looking statements contained in this letter.
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