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Rentech Nitrogen Partners, L.P. (NYSE: RNF) announced today the completion of all repairs related to the fire that occurred at its East Dubuque, IL nitrogen fertilizer facility on November 29, 2013. Ammonia production resumed on December 29, 2013, and the facility is producing ammonia as expected at a steady rate of approximately 790 tons per day as of January 5, 2014. The Partnership continues to anticipate ammonia production at the increased rate of approximately 1,020 tons per day by the end of January 2014, upon completion of the previously-announced repairs to the foundation of one of the four syngas compressors.
Rentech Nitrogen reaffirmed its expectation that the lost production due to the fire will have minimal effect on previously forecasted deliveries for 2014, and that the overwhelming majority of the impact on product deliveries occurred in 2013. The Partnership also confirmed that it is in the process of submitting insurance claims to cover the full costs of the repairs, and expects to pay a deductible of $1 million.
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.
This press release contains forward-looking statements about matters such as future production rates, the estimated timeline for completion of repairs, insurance coverage and the impact of lost production on product deliveries. 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.