OCI NV said March 16 that its facility in Geleen, The Netherlands, has restarted production of all units. There was a production stop at the facility Sept. 30, 2015, due to a fire in the basement of the calcium ammonium nitrate plant.
On Oct. 8, 2015, OCI Nitrogen restarted one ammonia production unit, shortly followed by UAN and part of its melamine production. OCI said with the start of operations of the CAN lines, all units are now operational, in time for the spring application in Europe.
OCI said most of the damage, including damage to property and loss of business, is insured.
Rentech Nitrogen Partners LP reported fourth-quarter 2015 results March 16 which are still being weighed down by writedowns at its Pasadena facility–$26.3 million in the fourth quarter, $160.6 million for the year. As a result, a fourth-quarter loss of $18.8 million ($0.48 per diluted share) on revenues of $77.4 million was reported versus the year-ago net income of $7.8 million ($0.20 per share) and $80.6 million, respectively. Absent impairments fourth-quarter net income was $7.6 million.
Full-year net losses were $101.5 million ($2.62 per share) on revenues of $340.7 million, compared to 2015’s loss of $1.1 million ($0.03 per share) and $334.6 million, respectively. Absent the impairments, Rentech had net income of $59.1 million.
Net income for Rentech’s East Dubuque nitrogen facility was improved for both the fourth quarter and the year, while the Pasadena unit was impacted by the impairments.
Rentech expects to sell its East Dubuque assets to CVR Partners LP by the end of the month, and this week announced it is selling Pasadena to Pasadena Commodities International, an affiliate of Interoceanic Corp. (IOC), who is the plant’s long-time distributor for ammonium sulfate.
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