LSB Industries, Inc. Announces That Its El Dorado, Arkansas Facility’s Ammonia Plant is Operating at Nameplate Capacity
By Business Wire News
By Business Wire News
LSB Industries, Inc. (NYSE: LXU) (“LSB or the Company”) announced today that its new 375,000 ton ammonia plant at its El Dorado, Arkansas facility (“El Dorado”) has been producing ammonia at an average rate of 1,150 tons per day, the plant’s nameplate capacity, since June 22, 2016. Since that date, El Dorado has been a net seller of ammonia, with all ammonia that the facility has not upgraded into other products being sold to Koch Fertilizer via pipeline under the previously announced three-year offtake agreement.
Daniel Greenwell, LSB’s Chief Executive Officer, stated, “Attaining nameplate capacity at our new ammonia plant is the culmination of a multi-year expansion project at our El Dorado Facility, and we’d like to thank and congratulate our team there for seeing the project through to completion despite the challenges along the way. The addition of ammonia production capabilities at El Dorado will be transformative to that facility’s economics, which we expect to be reflected in LSB’s overall financial performance in the second half of 2016.”
About LSB Industries, Inc.
LSB is a manufacturing 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 water source and geothermal heat pumps, hydronic fan coils, modular chillers, large custom air handlers and make-up air units.
Forward Looking Statement
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by use of the words “will”, “believes”, “expects”, “estimates”, “intends”, “anticipates”, “plans to”, “should”, “estimates”, “projects”, or similar expressions, the addition of ammonia production capabilities at El Dorado will be transformative to that facility’s economics and the various factors described in the “Special Note Regarding Forward-Looking Statements,” and the “Risk Factors” contained in our 10-K for the year ended December 31, 2015, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. These forward looking statements speak only as of the date of this press release, and LSB expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in LSB’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
LSB Industries, Inc.
Mark Behrman, 405-235-4546
Chief Financial Officer
The Equity Group Inc.
Fred Buonocore, 212-836-9607
Kevin Towle, 212-836-9620