Tuesday, May 15, 2012

Reuters: Regulatory News: UPDATE 1-LSB Industries shuts Arkansas plant after explosion

Reuters: Regulatory News
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UPDATE 1-LSB Industries shuts Arkansas plant after explosion
May 15th 2012, 17:12

Tue May 15, 2012 1:12pm EDT

May 15 (Reuters) - LSB Industries Inc said it will shut its El Dorado, Arkansas chemical plant for an indefinite period after an explosion caused "significant" damage to the facility.

Shares of the company, which makes heating, ventilation and air conditioning (HVAC) and nitrogen-based chemical products, fell 15 percent to $27.67 on Tuesday on the New York Stock Exchange.

A reactor at the DSN concentrated nitric acid plant exploded, the company said.

LSB said it does not have an estimate on the extent of the damages or the repair time.

The El Dorado facility produces and sells about 470,000 tons of nitrogen-based products per year, according to the company's annual report filed on Feb. 28.

LSB, which is investigating the cause of the explosion, said it believes there was no environmental release and there were no injuries.

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