LSB Industries, Inc. (NYSE:LXU) will seek acquisitions. Mark Behrman, President and Chief Executive Officer said, "In late September, we closed on our transaction with Eldridge Industries to exchange Eldridge's $310 million of LSB preferred stock for shares of our common stock. With this liability removed from our balance sheet, we received credit rating upgrades from the major rating agencies and proceeded in refinancing our debt through an offering of new senior notes. Both transactions have helped us significantly reduce our cost of capital and bolster our liquidity. We now have the flexibility to pursue earnings and cash flow growth opportunities through both organic initiatives and accretive acquisitions".
LSB Industries, Inc. is primarily engaged in the manufacturing and marketing of chemical products for the agricultural, industrial and mining markets. The Company manufactures products for three principal markets: agricultural, industrial and mining. Its agricultural products include ammonia, fertilizer-grade ammonium nitrate (AN), high-density ammonium nitrate (HDAN) and urea ammonia nitrate (UAN). Its industrial products include high-purity and commercial-grade ammonia, high-purity AN, sulfuric acids, concentrated, blended and regular nitric acid, mixed nitrating acids, carbon dioxide, and diesel exhaust fluid (DEF). Its mining products include industrial-grade AN (LDAN) and AN solutions. It owns and operates three multi-plant facilities in El Dorado, Arkansas, Cherokee, Alabama, and Pryor, Oklahoma. Its products are sold through distributors and directly to end customers throughout the United States and parts of Canada and the North America.