LSB Industries’ Subsidiary Extends Long-Term Agreement to Supply Nitric Acid
to Bayer MaterialScience
OKLAHOMA CITY -- July 1, 2013
LSB Industries, Inc. (NYSE: LXU) announced today its El Dorado Nitrogen L.P.
subsidiary (EDNLP) has signed a seven-year extension with Bayer
MaterialScience LLC (Bayer) to supply Bayer with its requirement of nitric
acid. This agreement amends EDNLP’s previous agreement to supply nitric acid
to Bayer. Under the extended agreement, which is effective as of July 1, 2014,
EDNLP continues to charge Bayer for nitric acid on a cost plus basis.
Jack E. Golsen, LSB Chairman and CEO, stated, “EDNLP has enjoyed a mutually
beneficial working relationship with Bayer since 1998, and we look forward to
continuing this relationship under the new extended agreement.”
LSB is a manufacturing and marketing company. LSB’s principal business
activities consist of the manufacture and sale of chemical products for the
agricultural, mining, and industrial markets and the manufacture and sale of
commercial and residential climate control products, such as geothermal and
water source heat pumps, hydronic fan coils and modular geothermal chillers,
and large custom air handlers.
LSB Industries, Inc.
Tony M. Shelby, Chief Financial Officer
The Equity Group Inc.
Fred Buonocore, CFA (212) 836-9607
Linda Latman (212) 836-9609
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