A fourth-quarter insurance recovery of $76.2 million significantly boosted the results of LSB Industries Inc.’s Chemical segment. Fourth-quarter Chemical operating income was $67.5 million on sales of $77.6 million up from the year-ago $15.1 million and $105.3 million. Full-year income was $87.8 million on sales of $380.7 million up from $82.1 million and $477.8 million, respectively.

Company-wide, LSB reported fourth-quarter net income of $37.3 million on sales of $149 million, up from $11.6 million and $177.1 million. Full-year income was down at $55 million on sales of $679.3 million versus 2012’s $58.6 million and $759 million, respectively.

LSB Industries Inc. told analysts today that the Pryor, Okla., ammonia plant is in start-up mode though production is currently at low levels. The plant was down during most of fourth-quarter 2013 for repairs. LSB said it went back down in early January after a power problem caused additional damage at the plant. Major products at Pryor are ammonia and UAN.

Agrium Inc. said Feb. 25 that its board of directors has approved an expansion at its nitrogen facility in Borger, Texas.

The expansion project will add a new urea production unit of approximately 610,000 mt of which approximately 100,000 mt will be Diesel Emission Fuel (DEF) grade urea. DEF is used to reduce nitrogen oxide (NOx) emissions in diesel vehicles and this product will help diversify our end-markets. The project will also increase the annual ammonia capacity for the facility by approximately 145,000 mt, bringing the total annual gross ammonia capacity to approximately 635,000 mt . The total capital cost of the project is expected to be approximately $720-million. Construction will fully commence in March 2014, with completion expected in the second half of 2015. During this construction period, the Borger facility is expected to operate at normal production rates.

"Agrium is one of the largest and lowest cost producers of nitrogen in the world. The upgrade and expansion at the Borger facility will continue to grow our nitrogen footprint in this important agricultural region while providing a strong return on investment. The project will ensure the facility’s future longevity, while using the latest in environmental control technology," said Agrium’s President and CEO Chuck Magro.

“The expansion project will also provide greater flexibility to meet changes in demand by product and region and reduce our reliance on existing ammonia distribution channels,” said Magro.

CVR Partners LP reported fourth-quarter 2013 net income of $27.9 million, or 38 cents per fully diluted common unit, on net sales of $84.3 million, compared to net income of $15.3 million, or 21 cents per fully diluted common unit, on net sales of $67.6 million for the fourth quarter a year earlier.

Full-year 2013 net income was $118.6 million, or $1.62 per fully diluted common unit, on net sales of $323.7 million, compared to $112.2 million of net income, or $1.53 per fully diluted common unit, on net sales of $302.3 million for 2012.

“Both the 2013 fourth quarter and full year were highlighted by record production from our expanded UAN plant, which was brought online at the end of February 2013,” said Jack Lipinski, CEO. “The increased production levels of higher value UAN continue to benefit our business.”

Emergency responders are evacuating Northwood, Iowa, a town of about 1,900, who are believed in danger from a chemical fire burning in what has been described as a storage facility for crop dusting chemicals, according to the Iowa State Patrol. Sulfuric acid was believed to be in the facility. "They’re making transportation available from the sheriff’s office and have advised residents," Sgt. Scott Bright advised Green Markets. Bright said the plan is to move residents to the town of Kensett about six miles to the south. He said the concern is that anyone in the vicinity could be injured breathing the fumes from the fire burning in a hanger at the airport. Bright was not able to explain the status of the airport facility which he indicated could have been used as a chemical plant or just for storage of the chemical. He did not know how much acid was involved.

Tampa anhydrous ammonia business for March has been concluded at $460/mt CFR, up $45/mt from February’s $415/mt CFR.

Agrium Inc. reports that it has begun the process to divest part of its former Advanced Technology unit, specifically its Turf and Ornamental and Direct Solutions businesses. Agrium has reported earlier that it was weighing its options for these businesses, with divestment a possibility. As earlier reported, Agrium has opted to keep its Environmentally Smart Nitrogen (ESN) and Micronutrient businesses, also former Advanced Tech businesses, and put them within its Wholesale unit.

Agrium says it is highly probably that Turf and Ornamental and Direct Solutions will be sold this year. For now, they are labeled as held for sale. Additionally, Agrium recorded the assets at fair value less costs to sell which resulted in a $60 million post-tax write-down within discontinued operations primarily related to goodwill.

Agrium Inc. reported net earnings of $99 million ($0.66 per diluted share) on sales of $2.87 billion for the fourth quarter ending Dec. 31, 2013, compared to the year-ago $354 million ($2.34 per share) on sales of $3.1 billion.

“Agrium’s Retail results were excellent this quarter, particularly considering the decline in nutrient prices that occurred and the compressed fall application season in the U.S.,” said Chuck Magro, Agrium president and CEO. ‘Retail achieved record fourth quarter results due to increased margins across almost all shelves. Our Wholesale business unit, which has more direct exposure to volatility in nutrient markets, saw their results impacted by lower global prices across all nutrients. Global nitrogen and phosphate markets have firmed significantly in early 2014 in response to what we expect will be a strong spring season.”

Full-year earnings were $1.06 billion ($7.20 per share) on sales of $15.7 billion down from 2012’s $1.5 billion ($9.56 per share) and $16 billion, respectively.