Social business May 20 hearing
By 2016 a quarter of income is not ideal, the Spanish company La Seda De Barcelona (LSB) leadership is planning to start the ammonia plant located in El Dorado, Arkansas plant. Once started, this is expected to ammonia plant will have an annual production capacity of 375,000 tons.
CEO Dan Greenwell said it expects the next few weeks, the ammonia plant will start. "We want to significantly lower raw material cost El Dorado plant will produce more ammonia into other products in order to achieve a substantial improvement in profitability." Dan Greenwell said.
2016 first quarter, the company's chemical business sales revenue of $ 97 million, compared with $ 131 million the same period in 2015 decreased, mainly because fertilizer prices nearly 35% decline. This led to falling prices in the first quarter operating profit dropped significantly compared with the same period of 2015, compared to the same period last year of $ 16.7 million operating profit loss of $ 10,202,016 in the first quarter.
The company's average selling price of urea ammonium nitrate
solution per tonne from $ 2,562,015 in the same period of the first quarter of 2016 fell to $ 1.8. 2015 average selling price per tonne of ammonium nitrate from $ 3,172,015 in the same period fell to $ 2,472,016 in the first quarter, ammonia income also fell sharply, the average price dropped from $ 513 to $ 337 per ton.
LSB first quarter, the company sold 94,306 tons of urea
ammonium nitrate solution, sales in the first quarter of 2015 was 116,922 tons, sales of ammonium nitrate from 64,000 tons in the same period of 2015 fell to 54,548 tons, while sales of ammonia compared with 2015 in the same period rose from 30,766 tons increased to 36,644 tons.