-----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, Ith7pe5fwU+bQZYZyQG+0K0qoR/11fYNuSow/OL14Tx98ZamQ/6XIZhn0yYKSnzl kIUVX6jAsNwL5QzuTAppug== 0000950131-97-007467.txt : 19971230 0000950131-97-007467.hdr.sgml : 19971230 ACCESSION NUMBER: 0000950131-97-007467 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971223 ITEM INFORMATION: FILED AS OF DATE: 19971229 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: TERRA INDUSTRIES INC CENTRAL INDEX KEY: 0000722079 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-MISCELLANEOUS NONDURABLE GOODS [5190] IRS NUMBER: 521145429 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-08520 FILM NUMBER: 97745231 BUSINESS ADDRESS: STREET 1: TERRA CENTRE 600 4TH ST STREET 2: P.O. BOX 6000 CITY: SIOUX CITY STATE: IA ZIP: 51102-6000 BUSINESS PHONE: 7122771340 MAIL ADDRESS: STREET 1: TERRA CENTER STREET 2: 600 4TH ST P O 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 FORM 8-K ================================================================================ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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): December 23, 1997 TERRA INDUSTRIES INC. (Exact name of registrant as specified in its charter) Maryland 1-8520 52-1145429 (State or other jurisdiction of (Commission File (I.R.S. Employer incorporation or organization) Number) Identification No.) Terra Centre 600 Fourth Street P.O. Box 6000 Sioux City, Iowa 51102-6000 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (712) 277-1340 ================================================================================ ITEM 5. Other Events. On December 23, 1997, Terra Industries Inc. issued the press release contained in Exhibit 1 hereto, which is incorporated by reference herein. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. TERRA INDUSTRIES INC. By: /s/ GEORGE H. VALENTINE ------------------------------------- George H. Valentine Senior Vice President, General Counsel and Corporate Secretary Date: December 29, 1997 2 EX-1 2 PRESS RELEASE DATED 12/23/1997 [LOGO OF TERRA INDUSTRIES INC.] Exhibit 1 Terra Industries Inc. 600 Fourth Street P.O. Box 6000 Sioux City, IA 51102-6000 Telephone: (712) 277-1340 Telefax: (712) 233-3648 www.terraindustries.com ================================================================================ NEWS ================================================================================ For Immediate Release Contact: Paula C. Norton (712) 277-5438 TERRA RESOLVES INSURANCE CLAIMS RELATED TO PORT NEAL EXPLOSION Sioux City, Iowa (December 23, 1997)--Terra Industries Inc. (NYSE symbol: TRA) announced today that it has reached a settlement with Industrial Risk Insurers (IRI) on its insurance claims for property damages and business interruption losses arising from the 1994 explosion at Terra's Port Neal, Iowa fertilizer plant. IRI is one of the six insurance carrier defendants Terra sued in April of this year in Sioux City federal district court to recover on its claims. Under the settlement, IRI agreed to pay Terra its proportionate share (50 percent of the overall insurance coverage) of a total claim fixed at $321 million. Previously, Terra settled with all of the other five insurance carrier defendants, who collectively paid the other 50 percent share of a $321 million settlement. As a result of the settlements, the lawsuit filed in April will be dismissed. Terra Industries Inc. is a leading marketer and producer of nitrogen fertilizer, crop production products, seed and services for agricultural, turf, ornamental and other growers. Terra also produces nitrogen products and methanol for industrial customers. # # # Note: Terra's new releases are available by fax at no charge by calling 800- 758-5804, code 437906. -----END PRIVACY-ENHANCED MESSAGE-----