Source: Terra Industries Inc.



Terra Industries Inc. has resumed production at its Woodward, Okla., manufacturing facility, which has been idle since Dec. 18, 2008. The facility's ammonia plant will operate at optimal rates to manage inventories in the continuing slow industrial ammonia demand environment. The upgrading plants will operate at full rates to meet agricultural nitrogen demand.



The facility's methanol plant has also resumed production.



Terra said it idled its Donaldsonville, La., and Woodward manufacturing facilities to make repairs and manage inventories during a period of slow demand in December. The monthly cash costs to maintain these facilities during idled periods are approximately $0.7 million and $1.1 million for Donaldsonville and Woodward, respectively.



On Feb. 10, the company reported that for 2008, income available to common stockholders of $631.9 million ($6.20 per diluted share), up from $196.8 million ($1.90 per diluted share) in 2007. Revenues for the 2008 fourth quarter totaled $683.5 million, compared to $569 million for the 2007 fourth quarter.



"Terra delivered strong fourth-quarter results in a difficult environment, and the best full-year results in the company's more-than-40-year history," Terra President and CEO Michael Bennett said in a news release. "Nitrogen selling prices and natural gas costs weakened sharply in conjunction with the global economic downturn in the fourth quarter. Our plants operated well during the quarter, but production levels were affected by decisions to idle production at some manufacturing facilities during the quarter to manage inventories and take an opportunistic outage for repairs."