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November 14, 2012
13:47 EDTLXULSB Industries says subsidiary plant suffers pipe rupture
LSB Industries announced that the facility of its subsidiary, Cherokee Nitrogen Company, suffered a pipe rupture causing damage to the heat exchanger portion of its ammonia plant. The company is determining whether damages extend beyond the area where the rupture occurred. No serious injuries, or environmental impact, resulted from the pipe rupture. Management preliminarily estimates a three to five month outage at the ammonia plant, depending on lead times for repair parts. The company said, "Until the ammonia plant is repaired, we believe that the Cherokee Nitrogen Facility can produce, on a limited basis, nitric acid and ammonium nitrate solution to be produced from purchased ammonia. The company has notified its insurer of this event. The company’s insurance policy, which provides replacement cost coverage, has a $2.5M deductible for property damage. The company’s business interruption insurance covering certain lost profits and extra expense has a 30 day waiting period."
News For LXU From The Last 14 Days
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July 29, 2014
10:00 EDTLXUOn The Fly: Analyst Initiation Summary
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08:54 EDTLXULSB Industries initiated with a Buy at Feltl
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July 26, 2014
20:30 EDTLXULSB Industries has 'huge upside,' Barron's says
Activist involvement in LSB Industries and the board's exploration of strategic options could send shares higher, Barron's contends in its "Sizing Up Small Caps" column. Two new industry veteran board members could help drive shares higher before any strategic arrangement is made, the paper adds. Reference Link

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