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January 14, 2013
07:05 EDTLXULSB Industries provides update on repairs at Pryor, Cherokee facilities
LSB Industries announced that it expects to complete the installation of a new ammonia converter and resume production at its Pryor, Oklahoma chemical facility in the first half of February. As announced on November 21, 2012, the company had stopped production at the Pryor Facility to perform unplanned maintenance on a compressor, as well as for the planned installation of a new ammonia converter designed to improve and increase ammonia production capacity. The company initially anticipated an outage of approximately six to eight weeks; however, while the compressor maintenance has been completed, delay in the delivery of certain components related to the converter installation has pushed out by approximately four weeks the expected timeframe for restarting the Pryor Facility. The company estimated that the adverse effect of this downtime on operating income is approximately $2M per week until production resumes. Additionally, the Company provided an update on its Cherokee Nitrogen facility, following its November 14, 2012 announcement that the Cherokee Facility suffered a pipe rupture that damaged the heat exchanger portion of its ammonia plant. Since that time, the Cherokee Facility has been producing nitric acid and ammonium nitrate at the targeted production level, using purchased ammonia feedstock. Management expects repairs to be completed and production to be resumed within the previously estimated three to five month range.
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March 2, 2015
10:22 EDTLXULSB Industries extends deadline for Starboard to nominate directors
LSB Industries announced that on March 1 the board extended the deadline for Starboard Value to nominate directors for consideration at the 2015 annual meeting of stockholders to March 9 at 5 pm Central time. Director nominations submitted by Starboard prior to 5 p.m. on March 9, that otherwise conform to the requirements of the company’s Bylaws, shall be considered timely. The waiver and extension of the advance notice deadline applies only to Starboard and is applicable only for the 2015 annual meeting of stockholders, LSB said.
06:43 EDTLXULSB Strategic Committee to continue execution of existing strategic plan
LSB Industries announced that the LSB Board’s Strategic Committee and the board have unanimously determined that the continued execution of the company’s existing strategic plan is in the best interests of LSB and its shareholders at this time. The board noted that its decision was made following the unanimous recommendation of the Board’s Strategic Committee. The Strategic Committee will continue to evaluate all strategic alternatives as the current company initiatives underway are implemented and as market conditions warrant. Specifically, once the expansion project at El Dorado is completed and Pryor and Cherokee demonstrate improved consistency of operations, the Committee intends to reassess the ability to enhance shareholder returns through placing some or all of the Company’s Chemical Business into a Master Limited Partnership structure under market conditions at that time. In addition, as end markets accelerate for the Climate Control Business, and the business growth initiatives and other changes drive enhanced performance, LSB will also reassess the viability of alternatives to separate the business. As previously disclosed, the Strategic Committee was established in accordance with the company’s April 2014 settlement agreement with Starboard Value LP. The Strategic Committee’s mandate included a thorough evaluation of potential strategic alternatives for the Company with the assistance of financial, legal and tax advisors. In particular, the Strategic Committee considered separating the Climate Control Business through a spin-off, selling the Climate Control Business, placing some or all of the Company’s Chemical Business into an MLP structure and continuing to execute the Company’s strategic plan.
06:37 EDTLXULSB Industries reports Q4 adjusted EPS 9c vs. (42c) a year ago
Reports Q4 EPS 3c, may not be comparable to consensus 35c. Reported 4Q13 EPS of $1.58. Reports Q4 revenue $181.3M, consensus $181.79M.

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