LSB Industries Inc., reporting improved operational results, posted a first-quarter loss from continuing operations of $6 million on revenues of $123.3 million, compared to the year-ago loss of $15.8 million on revenues of $98.9 million.
“We have made positive improvements that are reflected in our first quarter 2017 results,” said Daniel Greenwell, LSB president and CEO. “As anticipated, pricing for our agricultural products, although slightly improved from the fourth quarter of 2016, remained well below prior year levels. However, our performance improved compared to the first quarter of 2016 as a result of stronger operations at our three primary chemical manufacturing facilities, enhanced by the incremental output from the new ammonia plant at El Dorado, which entered service in May of 2016.”
Yara International ASA reported April 24 that there was a fire in the ammonia plant at Yara Porsgrunn in Norway this morning. The fire was put out, and no personnel have been injured.
Investigations into the cause and material damage of the fire are ongoing, but the damage is limited to the ammonia plant.
The Porsgrunn plant has the capability to produce for full finished fertilizer production based on imported ammonia.
The Yara Porsgrunn plant has an annual production capacity of approximately 0.5 million mt ammonia, 2.2 million mt NPK and 0.8 million mt calcium nitrate.
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