Terra suspends production at Woodward facility
Terra Industries Inc. announced that it has indefinitely suspended all production at its Woodward, Okla., facility. The shutdown is due to mechanical repairs and catalyst changes. Terra will not resume production at the facility in the near term due to high natural gas costs which have not been offset by increases in nitrogen products and Methanol selling prices, the seasonal lull in nitrogen fertilizer demand and uncertainty over how much nitrogen fertilizer is likely to be used in 2006.
The Woodward facility's management and staff will make repairs, inspect equipment and change out some process catalysts through the first half of December. This will permit the facility to resume more efficient production in the second half of December or at a later date when ammonia and UAN demand and selling prices increase and/or natural gas costs decrease to the point where the facility can operate with positive cash flow. Terra expects to fulfill its Woodward sales commitments during the shutdown from inventories at Woodward and other Terra locations.
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