The Partnership expects ammonia production for the East Dubuque Facility in early 2014 to be restricted to 790 tons per day, compared to the 1,100 tons per day expected before the discovery of the requirement for compressor-related repair. Otherwise, the East Dubuque Facility is expected to operate at its expanded production rates during the rest of 2014. The Pasadena Facility’s margins are expected to improve in 2014. The benefits of lower input costs, already visible in the market, should start to be realized in early 2014. Third-party forecasters show modest improvements in prices for ammonium sulfate in 2014, as well as lower prices for the key inputs, leading the Partnership to expect improved margins and positive EBITDA for the Pasadena Facility in 2014.Changes in Timing of Cash Distributions: The Partnership plans to change the timing of the payment of its cash distributions, so that cash distributions will generally be announced at the same time as quarterly results. The Board of Directors of Rentech Nitrogen Partners has approved a change, so that quarterly distributions will be paid on or about 60 days after the end of each quarter, rather than the current practice of 45 days. The result is that quarterly operating results and cash distributions can be announced simultaneously for the first through third quarters. For the fourth quarter, distributions may be announced before full operating results, due to the longer time required to report annual operating results. The cash distribution for the fourth quarter of 2013 is expected to be announced in February 2014, and paid on or about 60 days following the end of the quarter.
Rentech Nitrogen Partners, L.P. Updates Outlook For 2013 And 2014
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