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CF Industries Holdings, Inc. Commences Restart of Ammonia Plant at Billingham, UK, Complex
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Rhea-AI Summary
CF Industries Holdings, Inc. (NYSE: CF) has announced the immediate restart of its ammonia plant at the Billingham, UK complex. This decision comes after an interim agreement that covers the costs for the plant's operations and CO2 production for the UK market. CEO Tony Will expressed gratitude to Secretary Kwasi Kwarteng and his team for their assistance in preventing a CO2 supply disruption that could impact various industries. The plant’s safe restart is expected to take several days, with plans for a long-term CO2 supply solution being discussed.
Positive
Immediate restart of ammonia plant at Billingham, UK, ensuring continuity in CO2 supply.
Agreement reached to cover costs related to plant operations and CO2 production.
Collaboration with UK government officials to develop long-term solutions for CO2 supply.
Negative
High cost of natural gas remains a concern impacting production decisions.
Previous shutdowns of the UK facilities indicate vulnerability to market fluctuations.
DEERFIELD, Ill.--(BUSINESS WIRE)--
CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, today announced that it is immediately restarting the ammonia plant at its Billingham, UK, complex. The restart follows an interim agreement reached today to cover the costs to restart the ammonia plant and produce CO2 for the UK market.
“We want to thank The Honorable Kwasi Kwarteng, Secretary of State for Business, Energy and Industrial Strategy, and his entire staff for working tirelessly to bring about this agreement enabling restart of the plant and averting a potential CO2 supply disruption impacting many industries, including food and beverage availability to UK consumers,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “We look forward to working with Secretary Kwarteng and the UK government on developing a longer-term solution, including the development of alternative suppliers of CO2 for the UK market.”
CO2 is a byproduct of the ammonia production process. Safely restarting the ammonia plant at the Billingham Complex is expected to take several days.
About CF Industries Holdings, Inc.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our nine manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the company’s website at www.cfindustries.com and encourages those interested in the company to check there frequently.
Safe Harbor Statement
All statements in this communication, other than those relating to historical facts, are forward-looking statements, including, but not limited to, statements as to management’s expectations with respect to the resumption of production at CF Industries’ Billingham Complex, the prospects for a longer term solution to the circumstances, including the high cost of natural gas, that led to the shut down of both of CF Industries’ UK facilities, and other items described in this communication. Forward-looking statements can generally be identified by their use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “will” or “would” and similar terms and phrases, including references to assumptions. Forward-looking statements are not guarantees of future performance and are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from such statements. Forward-looking statements are given only as of the date of this communication and the company disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
