LSB Industries, Inc. Provides Operational Update on Its El Dorado, Arkansas Facility
October 16 2017 - 8:00AM
Business Wire
LSB Industries, Inc. (NYSE: LXU) (“LSB” or “the Company”) today
announced that the ammonia plant at its El Dorado, Arkansas
chemical facility (“El Dorado Facility” or “El Dorado”) was taken
out of service on October 3, 2017 to make mechanical repairs to the
burner refractory system on the boiler which were completed on
October 8, 2017. Following the work on the boiler, the Company
determined that repairs on a process heat exchanger were necessary.
LSB management has determined that the repairs to the heat
exchanger will be completed, and ammonia production will resume by
October 23, 2017.
The Company expects to meet all customer commitments for sales
in the fourth quarter of 2017 and estimates that the EBITDA impact
resulting from the repair expenses and the reduced absorption of
fixed costs related to the collective period of downtime will be
approximately $2.5 million to $3.0 for the fourth quarter of
2017.
LSB will provide an update on the progress of the repairs at El
Dorado and earlier announced Pryor repairs and the impacts of the
downtime on financial results when the Company reports third
quarter 2017 results in late October.
About LSB Industries, Inc.
LSB Industries, Inc., headquartered in Oklahoma City, Oklahoma,
manufactures and sells chemical products for the agricultural,
mining, and industrial markets. The Company owns and operates
facilities in Cherokee, Alabama, El Dorado, Arkansas and Pryor,
Oklahoma, and operates a facility for a global chemical company in
Baytown, Texas. LSB’s products are sold through distributors and
directly to end customers throughout the United States. Additional
information about the Company can be found on its website at
www.lsbindustries.com.
Forward Looking Statement
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements generally are
identifiable by use of the words “may,” “believe,” “expect,”
“intend,” “plan to,” “estimate,” “project” or similar expressions,
and include but are not limited to: enhanced reliability at our
Facilities; reducing costs; expanding into new markets; reducing
leverage and completing repairs on time and as estimated.
Investors are cautioned that such forward-looking statements are
not guarantees of future performance and involve risk and
uncertainties. Though we believe that expectations reflected in
such forward-looking statements are reasonable, we can give no
assurance that such expectations will prove to be correct. Actual
results may differ materially from the forward-looking statements
as a result of various factors. These and other risk factors are
discussed in the Company’s filings with the Securities and Exchange
Commission (SEC), including those set forth under “Risk Factors”
and “Special Note Regarding Forward-Looking Statements” in our Form
10-K for the year ended December 31, 2016 and, if applicable, our
Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K.
All forward-looking statements included in this press release are
expressly qualified in their entirety by such cautionary
statements. We expressly disclaim any obligation to update, amend
or clarify and forward-looking statement to reflect events, new
information or circumstances occurring after the date of this press
release except as required by applicable law.
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version on businesswire.com: http://www.businesswire.com/news/home/20171016005443/en/
Company:LSB Industries, Inc.Mark Behrman,
405-235-4546Chief Financial OfficerorInvestor Relations:The
Equity Group Inc.Fred Buonocore, 212-836-9607orKevin Towle,
212-836-9620
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