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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts