Chris Damas
Contrarian, newsletter provider, commodities, industrials

Rentech Nitrogen Fire Covered By Insurance

A Friday morning fire in the ammonia synthesis loop at the East Dubuque, Illinois plant of Rentech Nitrogen Partners, L.P. (NYSE:RNF) will further dent cash flow and any hope of a distribution for Q4 2013.

The press release regarding the fire was released after Friday's early close, so investors had no time to react, with the units closing up 5 cents to $20.52 on low holiday volume of 68,027.

(click to enlarge)

Friday's press release says the entire East Dubuque plant production will be down for several weeks to assess damages and make repairs.

According to the company, with the ammonia plant down, they would need to purchase ammonia and CO2 to produce upgraded products. It would appear...

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