DEERFIELD, Ill.--(BUSINESS WIRE)--
CF Industries Holdings, Inc. (NYSE: CF) today announced that the new
urea ammonium nitrate (UAN) plant at the company’s Donaldsonville,
Louisiana, Nitrogen Complex was started-up in early March 2016, and has
achieved consistent, stable operation. The plant has produced more than
80,000 tons of UAN since start-up.
This is the second new plant to be commissioned and started-up as part
of CF’s major capacity expansion projects in North America. It is the
largest operating single-train UAN plant in the world.
“The finish line for our Donaldsonville capacity expansion project is
now in sight,” said Tony Will, president and chief executive officer, CF
Industries Holdings, Inc. “The new UAN and granular urea plants are
running consistently at or above nameplate capacities, and the new
ammonia plant is within a few weeks of being mechanically complete.”
Total annual UAN capacity at Donaldsonville is now 4.2 million product
tons, up from 2.4 million tons previously. The Donaldsonville complex
has flexibility to switch upgraded product production between UAN and
urea products, so the actual product mix of UAN, granular urea and other
urea products will vary based on market conditions.
Upon completion of the new ammonia plant, the Donaldsonville complex
will be the largest nitrogen facility in the world.
About CF Industries Holdings, Inc.
CF Industries Holdings, Inc., headquartered in Deerfield, Illinois,
through its subsidiaries is a global leader in the manufacturing and
distribution of nitrogen products, serving both agricultural and
industrial customers. CF Industries operates world-class nitrogen
manufacturing complexes in Canada, the United Kingdom and the United
States, and distributes plant nutrients through a system of terminals,
warehouses, and associated transportation equipment located primarily in
the Midwestern United States. The company also owns a 50 percent
interest in an ammonia facility in The Republic of Trinidad and Tobago.
CF Industries routinely posts investor announcements and additional
information on the company’s website at www.cfindustries.com and
encourages those interested in the company to check there frequently.
Forward-Looking Statements
All statements in this communication by CF Industries Holdings, Inc.
(together with its subsidiaries, the “Company”), other than those
relating to historical facts, are forward-looking statements.
Forward-looking statements can generally be identified by their use of
terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,”
“intend,” “may,” “plan,” “predict” or “project” and similar terms and
phrases, including references to assumptions. Forward-looking statements
are not guarantees of future performance and are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
Company’s control, which could cause actual results to differ materially
from such statements. These statements may include, but are not limited
to, statements about the relative size and future output of the
Donaldsonville (LA) Nitrogen Complex; statements about future strategic
plans; and statements about future financial and operating results.
Important factors that could cause actual results to differ materially
from those in the forward-looking statements include, among others,
risks and uncertainties arising from the proposed acquisition by the
Company from OCI N.V. (“OCI”) of OCI’s European, North American and
global distribution businesses (the “ENA Business”) and the combination
of the Company and the ENA Business under a new holding company; risks
and uncertainties associated with the with the operation or management
of the strategic venture with CHS Inc. (the “CHS Strategic Venture”);
risks and uncertainties relating to the market prices of the fertilizer
products that are the subject of the supply agreement with CHS Inc. over
the life of the supply agreement and risks that any challenges related
to the CHS Strategic Venture will harm the Company’s other business
relationships; the volatility of natural gas prices in North America and
Europe; the cyclical nature of the Company’s business and the
agricultural sector; the global commodity nature of the Company’s
fertilizer products, the impact of global supply and demand on the
Company’s selling prices, and the intense global competition from other
fertilizer producers; conditions in the U.S. and European agricultural
industry; difficulties in securing the supply and delivery of raw
materials, increases in their costs or delays or interruptions in their
delivery; reliance on third party providers of transportation services
and equipment; the significant risks and hazards involved in producing
and handling the Company’s products against which the Company may not be
fully insured; risks associated with cyber security; weather conditions;
the Company’s ability to complete its production capacity expansion
projects on schedule as planned, on budget or at all; risks associated
with expansions of the Company’s business, including unanticipated
adverse consequences and the significant resources that could be
required; potential liabilities and expenditures related to
environmental, health and safety laws and regulations and permitting
requirements; future regulatory restrictions and requirements related to
greenhouse gas emissions; the seasonality of the fertilizer business;
the impact of changing market conditions on the Company’s forward sales
programs; risks involving derivatives and the effectiveness of the
Company’s risk measurement and hedging activities; the Company’s
reliance on a limited number of key facilities; risks associated with
the Company’s Point Lisas Nitrogen Limited joint venture; acts of
terrorism and regulations to combat terrorism; risks associated with
international operations; losses on the Company’s investments in
securities; deterioration of global market and economic conditions; and
the Company’s ability to manage its indebtedness.
More detailed information about factors that may affect the Company’s
performance and could cause actual results to differ materially from
those in any forward-looking statements may be found in CF Industries
Holdings, Inc.’s filings with the Securities and Exchange Commission,
including CF Industries Holdings, Inc.’s most recent annual report on
Form 10-K, which is available in the Investor Relations section of the
Company’s web site. Forward-looking statements are given only as of the
date of this communication and the Company disclaims any obligation to
update or revise the forward-looking statements, whether as a result of
new information, future events or otherwise, except as required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160330005622/en/
CF Industries Holdings, Inc.
Media
Chris Close
Director,
Corporate Communications
847-405-2542
cclose@cfindustries.com
or
Investors
Dan
Aldridge
Director, Investor Relations
847-405-2530
daldridge@cfindustries.com
Source: CF Industries Holdings, Inc.