LSB Industries, Inc. (the “Company”) (NYSE: LXU) today announced that its Pryor, OK Facility (“Pryor Facility”) was shut down on March 15, 2012 for unplanned maintenance. Plant personnel have identified excess heat in areas of a high temperature, large diameter pipe in the ammonia plant. As a precautionary measure, ammonia plant production has been shut down while the pipe is removed and the cause of the excess heat determined and repairs performed. Maintenance has also been undertaken at the urea plant at the Pryor Facility over the preceding two weeks. During this period, when the urea plant has been undergoing maintenance, the Pryor Facility has not produced urea ammonium nitrate (“UAN”) but has been producing and selling ammonia directly into the fertilizer market. The Company expects to resume ammonia and UAN production before March 31st. The Company plans to announce when ammonia and UAN production has resumed.
The Company estimates that the effect of the ammonia plant and the urea plant maintenance outages in March will result in approximately $4 million less operating income than otherwise would have been expected.
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, modular geothermal and other chiller systems, the manufacture and sale of chemical products for the industrial, mining and agricultural markets; and other activities.
This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Act of 1995.
forward-looking statements generally are identifiable by use of the
words “believe,” “expects,” “intends,” “anticipates,” “plans to,”
“estimates,” “projects” or similar expressions, and such forward-looking
statements including, but not limited to, the timing of resumption of
ammonia and UAN production, and that the Company estimates that the
effect of the ammonia plant and the urea plant maintenance outages will
result in approximately $4 million less operating profit.
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, equipment
failure, weather conditions, ability to repair or install necessary
equipment at the Pryor Facility and the demand for the chemical products
produced at the Pryor Facility.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV