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LXU > SEC Filings for LXU > Form 8-K on 25-Oct-2013All Recent SEC Filings

Show all filings for LSB INDUSTRIES INC



Other Events

Item 8.01. Other Events.

As previously reported, LSB Industries, Inc. (the "Company") filed an insurance claim for losses and damages in connection with the May 15, 2012, explosion of a reactor in the 98% strength nitric acid plant at the Company's chemical facility located in El Dorado, Arkansas. The Company's insurance carriers previously paid $60 million on the claim. Effective October 23, 2013, the Company settled the claim with its insurance carriers for the aggregate amount of $113 million, comprised of $60 million previously paid to the Company and $53 million to be paid to the Company within 30 days from October 23, 2013. The $113 million settlement amount is net of the Company's $1 million insurance deductible.

This insurance claim conclusion does not include the pending insurance claim regarding a pipe rupture that occurred in November 2012 at our Cherokee, Alabama location. The Cherokee plant insurance claim is currently being adjusted by the Company's insurers.

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