SIOUX CITY, Iowa, June 24 /PRNewswire-FirstCall/ -- Terra Industries Inc.
(NYSE: TRA) announced today that Steven Savage, Terra's Senior Vice President
of Manufacturing, plans to retire July 31, 2003.
Savage, who will turn 59 on his retirement, has led Terra's manufacturing
function since 1995. He has worked continuously in the nitrogen products
industry since earning his bachelor's degree from Purdue University in 1966.
Michael L. Bennett, Terra's President and Chief Executive Officer, said,
"We will miss Steve's unique way of weaving his strong technical knowledge and
experience with his focus on people, the environment and safety. I thank Steve
for his significant contribution in developing Terra's world-class
manufacturing capabilities.
"We are fortunate that Steve has developed strong, capable managers at all
eight Terra manufacturing facilities," Bennett continued. "I expect to name
his successor soon."
Terra Industries Inc., with 2002 revenues of $1 billion, is a leading
international producer of nitrogen products and methanol.
Information contained in this news 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 .
SOURCE Terra Industries Inc.
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