- Improving overall plant reliability with a goal of achieving average ammonia plant on-stream rates of at least 95%;
- Continuing to streamline its corporate structure to reduce costs;
- Reducing overall plant costs;
- Expanding into new markets with enhanced distribution; and,
- Reducing the Company's leverage to seek greater financial flexibility and an improved capital structure.
LSB Industries, Inc. (NYSE:LXU) ("LSB" or "the Company") today announced that its Board of Directors ("Board") has not been presented with a sale transaction that they feel is in the best interests of shareholders. As a result, at this time, the Board has made a decision to terminate the formal sale process portion of its strategic review. The Board always remains open and willing to engage in these types of discussions. While we are not sharing specific details of the process, we believe that, at this time, the current outlook in the nitrogen chemical industry is adversely affecting any potential transactions. The Board will, however, continue to work with its outside advisors on evaluating other strategic, financial and operational options. The Board and management continue to focus on the execution of their major objectives of: