LSB Industries' Subsidiary Cherokee Nitrogen Has Suspended Ammonia Production at Its Cherokee, Alabama, Plant
Thursday December 29, 9:50 am ET
OKLAHOMA CITY, Dec. 29 /PRNewswire-FirstCall/ -- LSB Industries, Inc. whose common stock is traded over the American Stock Exchange under the symbol LXU announced today that its subsidiary, Cherokee Nitrogen Company, which is located in Cherokee, Alabama, has suspended its ammonia production at its facility due to high natural gas costs.
The Company expects to resume production at Cherokee when gas prices decrease to a level which allows the Company to operate the Cherokee facility more economically. Cherokee plans to fulfill its sales commitments during the ammonia suspension period using purchased ammonia and inventory on hand.
LSB is a manufacturing, marketing, and engineering company with activities on a worldwide basis. LSB's principal business activities consist of the manufacture and sale of commercial and residential climate control products, the manufacture and sale of chemical products for the mining, agricultural and industrial markets, and the provision of specialized engineering services and other activities.
This press release contains certain forward-looking statements, including, but not limited to, expectation to resume production when gas prices decrease to a level the Company can operate the Cherokee Facility more economically and that Cherokee plans to full-fill its sales commitments from purchased ammonia and inventory on hand. Such statements are subject to risk and uncertainties that could cause the results to differ materially from such forward-looking statements, such as general economic conditions, natural disasters, regulatory changes, and changes to governmental policies and the ability to obtain purchased ammonia at reasonable prices. The Company has no obligation to update any forward-looking statements.
Source: LSB Industries, Inc.
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