Printer Friendly

ARCADIAN PARTNERS, L.P. SIGNS AGREEMENT TO SELL LAKE CHARLES, LA., AMMONIA PLANT

 MEMPHIS, Tenn., Jan. 11 /PRNewswire/ -- Arcadian Partners, L.P. (NYSE: UAN), reported today that it has entered into a definitive agreement with Fauji Fertilizer Company Limited for the sale of the ammonia plant at Arcadian's idled nitrogen fertilizer production facility in Lake Charles, La.
 According to the terms of the agreement, Fauji will pay Arcadian approximately $6 million in cash for the ammonia plant. Fauji will dismantle and relocate the plant to Pakistan for inclusion in a fertilizer production complex within 20 months of the closing date of the sale. The transaction is subject to certain customary conditions and is expected to close in the third quarter of 1994.
 Arcadian has not operated the ammonia plant since the failure of its adjoining urea plant on July 28, 1992. While the ammonia plant was relatively undamaged in the incident, the economics of operating the unit on a stand-alone basis are unfavorable. The urea plant assets are not included in the sale to Fauji.
 Arcadian Partners, L.P. is a leading United States producer and worldwide marketer of nitrogen-based fertilizers and related products. Arcadian Corporation is the general partner of Arcadian Partners, L.P.
 -0- 1/11/94
 /CONTACT: Deborah A. Howard, manager of Investor Relations, Arcadian Partners, L.P., 901-758-5366/
 (UAN)


CO: Arcadian Partners, L.P.; Fauji Fertilizer Company Limited ST: Tennessee, Louisiana IN: CHM SU:

MB-CM -- CH001 -- 0951 01/11/94 12:47 EST
COPYRIGHT 1994 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1994 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 11, 1994
Words:234
Previous Article:TRINITY BIOTECH RELEASES HIV TEST TRIAL RESULTS FROM INSTITUTE OF INFECTIOUS DISEASES - ITALY
Next Article:AMERITECH OFFERS DISCOUNTS ON ADDITIONAL PHONE LINES FOR BUSINESS CUSTOMERS
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters