Rentech Nitrogen Partners, L.P. (NYSE: RNF) has determined that the fire that occurred last Friday at the East Dubuque, Illinois facility began at the ammonia converter of the ammonia synthesis loop. The cost of repairs, which are currently underway, is anticipated to total approximately $1-2 million. The Partnership intends to file a claim related to the incident, under its property insurance policy, which has a deductible of $1 million. Production of all products at the facility is still anticipated to be halted for several weeks while repairs are made, however shipments of products held in inventory resumed on Saturday.
Rentech Nitrogen does not expect the fire to affect the schedule for completion of repair work already underway on the foundation of one of the four syngas compressors, or the remainder of commissioning for the ammonia capacity expansion project.
About Rentech Nitrogen, L.P.
Rentech Nitrogen ( www.rentechnitrogen.com) was formed by Rentech, Inc. to own, operate and expand its nitrogen fertilizer business. Rentech Nitrogen’s assets consist of two fertilizer production facilities owned by its operating subsidiaries. The East Dubuque Facility is located in the northwestern corner of Illinois, and uses natural gas as a feedstock to produce primarily anhydrous ammonia and UAN solution for sale to customers in the Mid Corn Belt. The Pasadena Facility is located in Pasadena, Texas, along the Houston Ship Channel, and uses ammonia and sulfur as feedstocks to produce ammonium sulfate and ammonium thiosulfate fertilizers, and sulfuric acid. Rentech Nitrogen is the largest producer of synthetic granulated ammonium sulfate fertilizer in North America, with sales in the United States and internationally.Forward-Looking Statements This press release contains forward-looking statements about matters such as estimated repair costs and timelines for completion of repairs and projects. These statements are based on management’s current expectations and actual results may differ materially as a result of various risks and uncertainties. Other factors that could cause actual results to differ from those reflected in the forward-looking statements are set forth in Rentech Nitrogen’s prior press releases and periodic public filings with the Securities and Exchange Commission, which are available via Rentech Nitrogen’s website at www.rentechnitrogen.com. The forward-looking statements in this press release are made as of the date of this press release and Rentech Nitrogen does not undertake to revise or update these forward-looking statements, except to the extent that it is required to do so under applicable law.
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