SIOUX CITY, Iowa, June 7 /PRNewswire/ --
Terra Nitrogen Company, L.P. (NYSE: TNH) (TNCLP) reported today that it
will suspend ammonia and urea production at its Blytheville, Ark., facility
and lay off 71 employees, or about 75 percent of its Blytheville workforce.
The production suspension is due to a substantial decline in urea selling
prices caused by high industry-wide urea inventories. The Blytheville
facility, which represents 29 and 100 percent, respectively, of TNCLP's total
ammonia and urea manufacturing capacity, will resume production when ammonia
and urea selling prices increase and/or natural gas costs decrease to the
point where the facility can operate with positive cash flow.
Terra Nitrogen Company, L.P. is a leading manufacturer of nitrogen
fertilizer products.
Information contained in this release, other than historical information,
may be considered forward-looking. Forward-looking information reflects
management's current views of future events and financial performance that
involve a number of risks and uncertainties. The factors that could cause
actual results to differ materially include, but are not limited to, the
following: changes in financial markets, general economic conditions within
the agricultural industry, competitive factors and price changes (principally
selling prices of nitrogen and methanol products and natural gas costs),
changes in product mix, changes in the seasonality of demand patterns, changes
in weather conditions, changes in governmental regulations and other risks
described in the "Factors That Affect Operating Results" section of Terra's
current annual report.
Note: Terra Industries' news announcements are also available on its web
site, http://www.terraindustries.com , and by fax at no charge to persons
calling 800-758-5804, code 437906.
SOURCE Terra Nitrogen Company, L.P.
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Related links:
http://www.terraindustries.com
Company News On-Call:
http://www.prnewswire.com/comp/106067.html or fax,
800-758-5804, ext. 106067
CONTACT:
Mark Rosenbury for Terra Nitrogen Company,
L.P., 712-279-8756
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