LSB Industries, Inc. Announces That Its Pryor, Oklahoma Facility Resumes Production
By Business Wire News
By Business Wire News
LSB Industries, Inc. (NYSE:LXU) (“LSB” or the “Company”) today announced that its Pryor, Oklahoma chemical facility (“Pryor Facility” or “Pryor”) has resumed production of ammonia on September 23, 2015. On September 3, 2015 the Company announced that Pryor had been taken out of service for unplanned maintenance in early August as a result of mechanical issues that occurred during restart following the facility’s planned annual turnaround, which took place throughout much of July.
LSB estimates that the periods of downtime at Pryor in August and September will reduce third quarter 2015 sales volumes of UAN and ammonia by a total of approximately 35,000 to 40,000 tons and 7,000 to 10,000 tons, respectively, while lowering operating income by a total of approximately $9.5 million to $10.0 million, which includes lost profit, unabsorbed overhead expenses and costs of repair.
About LSB Industries, Inc.
LSB is a manufacturing and marketing 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.
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, including, without limitation, the impact of the Pryor Facility’s unplanned outage on operating income, the anticipated effect on third quarter 2015 Chemical Business sales volume, 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, 2014, and Form 10-Q for quarter ended June 30,2015. 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
Linda Latman, 212-836-9609