SIOUX CITY, Iowa, June 26 /PRNewswire-FirstCall/ -- Terra Nitrogen
Company, L.P. (TNCLP) (NYSE: TNH) reported today that it will suspend ammonia
and urea production at its Blytheville, Ark., facility and lay off about
60 employees, or nearly 65 percent of its Blytheville workforce. The
production suspension is due to continued high natural gas prices and the
seasonal decline in nitrogen fertilizer demand and prices. 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
nitrogen fertilizer selling prices 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 Performance" section of TNCLP's current
annual report.
Note: Terra Nitrogen Company, L.P. news announcements are also available
on Terra Industries' web site, http://www.terraindustries.com .
SOURCE Terra Nitrogen Company, L.P.
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Related links:
http://www.terranitrogen.com
http://www.terraindustries.com
Company News On-Call:
http://www.prnewswire.com/comp/106067.html
CONTACT:
Mark Rosenbury of Terra Nitrogen Company,
L.P., +1-712-279-8756
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