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News Breaks
January 6, 2014
07:09 EDTRNFRentech Nitrogen resumes production at East Dubuque facility
Rentech Nitrogen announced the completion of all repairs related to the fire that occurred at its East Dubuque, IL nitrogen fertilizer facility on November 29, 2013. Ammonia production resumed on December 29, 2013, and the facility is producing ammonia as expected at a steady rate of approximately 790 tons per day as of January 5. The Partnership continues to anticipate ammonia production at the increased rate of approximately 1,020 tons per day by the end of January, upon completion of the previously-announced repairs to the foundation of one of the four syngas compressors. Rentech Nitrogen reaffirmed its expectation that the lost production due to the fire will have minimal effect on previously forecasted deliveries for 2014, and that the overwhelming majority of the impact on product deliveries occurred in 2013. The Partnership also confirmed that it is in the process of submitting insurance claims to cover the full costs of the repairs, and expects to pay a deductible of $1M.
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February 17, 2015
07:06 EDTRNFRentech says 'supports' decision by Rentech Nitrogen to explore alternatives
Rentech, Inc. (RTK) stated that it supports the decision by the board of Rentech Nitrogen Partners, L.P. (RNF) to retain a financial advisor to evaluate strategic alternatives for the partnership. Rentech owns the general partner and approximately 60% of the common units of Rentech Nitrogen.
07:05 EDTRNFRentech Nitrogen says exploring strategic alternatives
Rentech Nitrogen Partners, L.P. (RNF) that its Board of Directors has initiated a process to explore and evaluate potential strategic alternatives for the partnership, which may include a sale of the partnership, a merger with another party, a sale of some or all of the assets of the partnership, or another strategic transaction. The Board of Directors of Rentech, Inc. (RTK), which is the General Partner of, and owns approximately 60% of the common units of, the partnership, concurred with the partnership’s decision to explore its strategic alternatives. Rentech Nitrogen has retained Morgan Stanley as its financial advisor to assist with the strategic review process. The partnership stated that there can be no assurance that this strategic review process will result in a transaction. Rentech Nitrogen has not set a timetable for completion of the review process, and it does not intend to comment further regarding the review process unless a specific transaction is approved by its Board of Directors, the review process is concluded, or it is otherwise determined that further disclosure is appropriate or required by law.
07:05 EDTRNFRentech Nitrogen says exploring strategic alternatives
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