-----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, BpCkQONVLyJYDmyUErzpCrHfvynTRrRpvZx1uXae69iCigpVak6Pw752OBzAFTyX slnVxlNXotzPuZsjWsKJHA== 0000950131-03-001138.txt : 20030306 0000950131-03-001138.hdr.sgml : 20030306 20030306103400 ACCESSION NUMBER: 0000950131-03-001138 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030305 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030306 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: 03594015 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 d8k.txt FORM 8-K ================================================================================ 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): March 5, 2003 TERRA INDUSTRIES INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) Maryland 1-8520 52-1145429 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer 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 March 5, 2003, Terra Industries Inc. issued the press release contained in Exhibit 99.1 hereto, which is incorporated by reference herein. Item 7. Exhibits 99.1 March 5, 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: March 6, 2003 EX-99.1 3 dex991.txt MARCH 5, 2003 PRESS RELEASE Exhibit 99.1 Terra Industries Inc. [LOGO] 600 Fourth Street 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 reports North American production plans Sioux City, Iowa (March 5, 2003)--As reported on February 27, 2003, Terra Industries Inc. (NYSE symbol: TRA) has ceased production at and has placed on standby its Blytheville, Ark., and Woodward, Okla., facilities due to high natural gas prices. In addition, Terra has reduced ammonia and methanol production rates at its other North American facilities. Current production levels represent about 50, 70, 30 and 75 percent of Terra's North American ammonia, UAN, urea and methanol manufacturing capacity, respectively. The facilities can resume full production within two days when natural gas, nitrogen products and/or methanol price changes result in positive cash flow from the additional production. Similarly, production can be ceased at Terra's operating facilities within one day if natural gas, nitrogen products and/or methanol price changes adversely affect the cash flows of those facilities' production. Natural gas prices in the United Kingdom have been stable and Terra's two U.K. facilities are operating at or near capacity. Michael L. Bennett, Terra's President and Chief Executive Officer, said, "During this period of volatile natural gas prices, our main objectives are to meet our customers' requirements and protect Terra's financial position. We have adequate supplies to fulfill our existing sales commitments. However, we need to produce additional product if we are going to supply our agricultural customers' storage refill requirements. Consequently, we plan to resume full production as soon as natural gas costs and/or market prices of Terra's products permit." Terra Industries Inc., with 2002 revenues of $1 billion, is a leading international producer of nitrogen products and methanol. Information contained in this news release, other than historical information, may be considered forward-looking. Forward-looking information reflects management's current views of future events and financial performance that involve a number of risks and uncertainties. The factors that could cause actual results to differ materially include, but are not limited to, the following: changes in financial markets, general economic conditions within the agricultural industry, competitive factors and price changes (principally selling prices of nitrogen and methanol products and natural gas costs), changes in product mix, changes in the seasonality of demand patterns, changes in weather conditions, changes in governmental regulations and other risks described in the "Factors That Affect Operating Results" section of Terra's current annual report. # # # Note: Terra Industries' news announcements are also available on its web site, www.terraindustries.com. -----END PRIVACY-ENHANCED MESSAGE-----