UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON, D.C.
20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF
THE SECURITIES EXCHANGE ACT OF
1934
Date of
report (Date of earliest event reported): June 18, 2010
LSB INDUSTRIES, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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1-7677
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73-1015226
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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16 South Pennsylvania Avenue,
Oklahoma City, Oklahoma
(Address of principal executive offices) |
73107
(Zip
Code) |
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Registrant's telephone number,
including area code (405) 235-4546
Not applicable
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Section
8 – Other Events
Item
8.01. Other Events
As previously disclosed, LSB
Industries, Inc.’s (the “Company”) subsidiary operating in Pryor, Oklahoma
(“Pryor Facility”) began limited production of anhydrous ammonia in January 2010
and began limited production of urea ammonium nitrate (“UAN”) in March
2010. Due to a fire on June 18, 2010 in its ammonia plant’s reformer,
the Pryor Facility is unable to produce anhydrous ammonia or UAN. The
fire was immediately extinguished, and there was no environmental release as
result of the fire. Also, the Company is not aware of any injuries
resulting from the fire. The Company is determining the extent of the
damages, and based upon its current assessment, anticipates that due to lead
times for replacement parts, the repairs will be completed in approximately 90
days. The Company has notified its insurer of this
event. The Company’s insurance policy, which provides replacement
cost coverage, has a $1 million deductible for property damage. The
Company’s business interruption insurance covering certain lost profits and
extra expense has a 30 day waiting period with $250,000 deductible.
This
report 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”, “appears” or
similar expressions, and such forward-looking statements include, but are not
limited to, “based on its current assessment, anticipates that due to lead times
for replacement parts the repairs will be completed in approximately 90 days”.
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;
weather conditions, equipment failure, obtaining replacement parts other
interruptions in production, cash-flow requirements, and certain 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 quarterly report on Form
10-Q for quarter ended March 31, 2010, for a discussion of a variety of
additional factors which could cause the future outcome to differ materially
from the forward-looking statements contained in this press
release.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Company has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Dated: June
24, 2010
LSB
INDUSTRIES, INC.
By: /s/Tony M. Shelby
Name:
Tony M. Shelby
Title:
Executive Vice President and\
Chief
Financial Officer