LSB Industries, Inc. (NYSE: LXU) announced today its El Dorado Nitrogen L.P. subsidiary (EDNLP) has signed a seven-year extension with Bayer MaterialScience LLC (Bayer) to supply Bayer with its requirement of nitric acid. This agreement amends EDNLP’s previous agreement to supply nitric acid to Bayer. Under the extended agreement, which is effective as of July 1, 2014, EDNLP continues to charge Bayer for nitric acid on a cost plus basis.
Jack E. Golsen, LSB Chairman and CEO, stated, “EDNLP has enjoyed a mutually beneficial working relationship with Bayer since 1998, and we look forward to continuing this relationship under the new extended agreement.”
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.