DEERFIELD, Ill.--(BUSINESS WIRE)--Terra Nitrogen Company, L.P. (TNCLP) (NYSE: TNH) today announced the completion of the planned turnaround of an ammonia and UAN plant representing approximately one-half of the production capacity at its Verdigris, Oklahoma, nitrogen complex, which was shut down for the duration of the turnaround. The turnaround of the ammonia plant took approximately nine weeks, and the turnaround of the UAN plant took approximately eleven weeks. The turnaround work included upgrade projects to improve the production capacity and efficiency of the units.
“We are pleased to have restarted ammonia and UAN production following the completion of our maintenance and upgrade project,” said Phil Koch, senior vice president, manufacturing for Terra Nitrogen GP.
Terra Nitrogen Company, L.P. is a leading manufacturer of nitrogen fertilizer products.
TNCLP is the sole limited partner of Terra Nitrogen, Limited Partnership (TNLP), owner of the Verdigris, Oklahoma, manufacturing facility and related assets. Terra Nitrogen GP Inc., an indirect, wholly-owned subsidiary of CF Industries Holdings, Inc., is the General Partner of TNCLP and exercises full control over all of TNCLP’s business affairs.
All statements in this communication, other than those relating to historical facts, are forward-looking statements. These 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 TNCLP’s control, which could cause actual results to differ materially from such statements. Important factors that could cause actual results to differ materially from expectations include, among others:
- risks related to TNCLP’s reliance on one production facility;
- the cyclical nature of TNCLP’s business;
- the global commodity nature of TNCLP’s fertilizer products, the impact of global supply and demand on TNCLP’s selling prices, and the intense global competition from other fertilizer producers;
- conditions in the U.S. agricultural industry;
- the volatility of natural gas prices in North America;
- reliance on third party providers of transportation services and equipment;
- weather conditions;
- potential liabilities and expenditures related to environmental and health and safety laws and regulations;
- future regulatory restrictions and requirements related to greenhouse gas emissions;
- risks associated with cyber security;
- TNCLP’s inability to predict seasonal demand for its products accurately;
- risks involving derivatives and the effectiveness of TNCLP’s risk measurement and hedging activities;
- limited access to capital;
- difficulties in securing the delivery, or delays or interruptions in the delivery of raw materials such as natural gas;
- acts of terrorism and regulations to combat terrorism;
- risks related to TNCLP’s dependence on and relationships with CF Industries;
- deterioration of global market and economic conditions;
- risks related to TNCLP's partnership structure and control of TNCLP’s General Partner by CF Industries;
- changes in TNCLP’s available cash for distribution to its unitholders, due to, among other things, changes in its earnings, the amount of cash generated by its operations and the amount of cash reserves established by its general partner for operating, capital and other requirements;
- the conflicts of interest that may be faced by the executive officers of TNCLP’s General Partner, who operate both TNCLP and CF Industries; and
- tax risks to TNCLP's common unit holders and changes in TNCLP’s treatment as a partnership for U.S. or state income tax purposes.
More detailed information about factors that may affect TNCLP’s performance may be found in its filings with the Securities and Exchange Commission, including its most recent periodic reports filed on Form 10-K and Form 10-Q, which are available through CF Industries’ Web site. Forward-looking statements are given only as of the date of this release and TNCLP 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.
Terra Nitrogen Company, L.P. news announcements are also available on CF Industries’ website, www.cfindustries.com.