Item 8.01 Other Events.
On November 9, 2018, Ciner Resources LP (the “Partnership”) was informed that Ciner Resources Corporation, an affiliate of the Partnership (“Ciner Corp”), had delivered a notice to terminate its membership in American Natural Soda Ash Corp. (“ANSAC”), a cooperative that serves as the primary international distribution channel for the Partnership and two other U.S. manufacturers of trona-based soda ash. Such termination will be effective as of either (i) the end of day on December 31, 2021 or (ii) the end of day on December 31, 2020, provided that Ciner Corp on or before December 31, 2018 provides notice to ANSAC of its election to terminate its membership in ANSAC effective on such earlier date (such effective termination date, the “Effective Termination Date”). ANSAC, was the Partnership’s largest customer for the year ended December 31, 2017 and nine-month period ended September 30, 2018, accounting for 44.7% and 50.5%, respectively, of the Partnership’s net sales. As well as selling the Partnership’s soda ash to ANSAC-designated overseas territories, ANSAC has historically provided logistics and support services for the Partnership’s other export sales. Until the Effective Termination Date, the Partnership will utilize ANSAC to provide such historical services and act as the Partnership’s primary export customer reselling to ANSAC sales territories.
Cautionary Statements Regarding Forward-Looking Statements
This Report contains forward-looking statements relating to the financial condition, results of operations, plans, objectives, future performance and business of the Partnership. Statements other than statements of historical facts included in this Report that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements contain words such as “possible,” “believe,” “should,” “could,” “would,” “predict,” “plan,” “estimate,” “intend,” “may,” “anticipate,” “will,” “if,” “expect” or similar expressions. Such statements are based only on the Partnership’s current beliefs, expectations and assumptions regarding the future of the Partnership’s business, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Partnership’s control. The Partnership’s actual results and financial condition may differ materially from those implied or expressed by these forward-looking statements. Consequently, you are cautioned not to place undue reliance on any forward-looking statement because no forward-looking statement can be guaranteed. Factors that could cause the Partnership’s actual results to differ materially from the results contemplated by such forward-looking statements include: changes in general economic conditions, the Partnership’s ability to meet its expected quarterly distributions, changes in the Partnership’s relationships with its customers, including changes in its relationship with ANSAC or the ability to retain existing foreign customers or secure new foreign customers, the demand for soda ash and the opportunities for the Partnership to increase its volume sold, the development of glass and glass making product alternatives, changes in soda ash prices, operating hazards, unplanned maintenance outages at the Partnership’s production facilities, construction costs or capital expenditures exceeding estimated or budgeted costs or expenditures, the effects of government regulation, tax position, and other risks incidental to the mining, processing, and shipment of trona ore and soda ash, as well as the other factors discussed in this Report and the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2017, and subsequent reports filed with the Securities and Exchange Commission. All forward-looking statements included in this Report are expressly qualified in their entirety by such cautionary statements. Unless required by law, the Partnership undertakes no duty and does not intend to update the forward-looking statements made herein to reflect new information or events or circumstances occurring after this Report. All forward-looking statements speak only as of the date made.