-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UFHiEOoUffrIih9Qm4H0qaRXE8irEeWv3d6Tuzv6lUbR2NvShlOUZBkKuUe7Fs2u syblsUBOlqIm4w3HtzUtxg== 0000914760-03-000124.txt : 20030626 0000914760-03-000124.hdr.sgml : 20030626 20030626163609 ACCESSION NUMBER: 0000914760-03-000124 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030626 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030626 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TERRA INDUSTRIES INC CENTRAL INDEX KEY: 0000722079 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE CHEMICALS [2870] IRS NUMBER: 521145429 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08520 FILM NUMBER: 03758917 BUSINESS ADDRESS: STREET 1: 600 FOURTH ST STREET 2: PO BOX 6000 CITY: SIOUX CITY STATE: IA ZIP: 51102-6000 BUSINESS PHONE: 7122771340 MAIL ADDRESS: STREET 1: 600 FOURTH STREET STREET 2: PO BOX 6000 CITY: SIOUX CITY STATE: IA ZIP: 51102-6000 FORMER COMPANY: FORMER CONFORMED NAME: INSPIRATION RESOURCES CORP DATE OF NAME CHANGE: 19920517 8-K 1 t36797_8k626.txt JULY 26, 2003 ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): June 26, 2003 TERRA INDUSTRIES INC. (Exact name of registrant as specified in its charter) Maryland 1-8520 52-1145429 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) Terra Centre 600 Fourth Street, P.O. Box 6000 Sioux City, Iowa 51102-6000 (712) 277-1340 (Address of Principal Executive Offices, including Zip Code) (Registrant's Telephone Number, Including Area Code) ================================================================================ ITEM 5. OTHER EVENTS. On June 26, 2003, Terra Industries Inc. issued the press release contained in Exhibit 99.1, which is incorporated by reference herein. ITEM 7. EXHIBITS 99.1 June 26, 2003 Press Release SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. TERRA INDUSTRIES INC. /s/ Mark A. Kalafut ------------------------------------ Mark A. Kalafut Vice President, General Counsel and Corporate Secretary Date: June 26, 2003 EX-99.1 3 t36797_8k626x99.txt PRESS RELEASE [LOGO] Terra Industries Inc. ------------ 600 Fourth Street EXHIBIT 99.1 P.O. Box 6000 ------------ Sioux City, IA 51102-6000 Telephone: (712) 277-1340 Telefax: (712) 277-7383 www.terraindustries.com ================================================================================ NEWS ================================================================================ For immediate release Contact: Mark Rosenbury (712) 279-8756 TERRA INDUSTRIES INC. SUSPENDS PRODUCTION AT BLYTHEVILLE FACILITY Sioux City, Iowa (June 26, 2003)--Terra Industries Inc. (NYSE symbol: TRA) announced today it will suspend ammonia and urea production at its Blytheville, Ark., facility at the end of June 2003. The shutdown is due to expectations that the facility would not cover its cash costs because of continuing high natural gas costs and the seasonal decline in nitrogen fertilizer demand and prices. The facility will resume production when ammonia and urea selling prices increase and/or natural gas costs decrease to the point where the facility can operate with positive cash flow. The Blytheville facility's ammonia and urea manufacturing capacity represent 14 and 73 percent, respectively, of Terra's total North American ammonia and urea manufacturing capacity. Terra will continue to operate its Blytheville ammonia and urea storage and shipping facilities. Terra has notified about 60 employees, or nearly 65 percent, of its Blytheville workforce that they will be laid off for an indefinite period, currently expected to last three to five months, depending on market conditions. Said Terra's President and CEO Michael L. Bennett, "We're extremely disappointed at having to lay off some of our Blytheville employees. However, we continue to hope that a balance of natural gas costs and nitrogen products prices that will allow us to restart production in Blytheville will be achieved within the next several months." Terra Industries Inc., with 2002 revenues of $1 billion, is a leading international producer of nitrogen products and methanol. This news release may contain forward-looking statements, which involve inherent risks and uncertainties. Statements that are not historical facts, including statements about Terra Industries Inc.'s beliefs, plans or expectations, are forward-looking statements. These statements are based on current plans, estimates and expectations. Actual results may differ materially from those projected in such forward-looking statements and therefore you should not place undue reliance on them. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements is set forth in Terra Industries Inc.'s most recent report on Form 10-K and Terra Industries Inc.'s other documents on file with the Securities and Exchange Commission. Terra Industries Inc. undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. # # # Note: Terra Industries' news announcements are also available on its web site, www.terraindustries.com. -----END PRIVACY-ENHANCED MESSAGE-----