LSB Industries Inc. (LXU) announced Wednesday afternoon that the facility of its subsidiary, Cherokee Nitrogen Company, suffered a pipe rupture causing damage to the heat exchanger portion of its ammonia plant. Management preliminarily estimates a three to five month outage at the ammonia plant for repairs.
LSB Industries traded to the downside for the bulk of Wednesday's session and closed lower by 5.10 at $33.04 on above average volume. The stock dropped to a 3-month low and fell below its 200-day moving average.
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