Incitec Pivot to take up to $90M hit from Waggaman ammonia plant shutdown

Incitec Pivot Ltd. said Feb. 25 that it expects to take six to eight weeks to complete repairs and restart the Waggaman ammonia plant in Louisiana, and the downtime would have an impact of $68 million to $90 million on its after-tax net profit.

An investigation found a rupture in a section of pipe led to a release of hydrogen at the plant Feb. 18. The investigation revealed minor damage to surrounding equipment, the company said.

Incitec Pivot is taking measures to mitigate the impact of the plant's closure, including calling force majeure on its external ammonia supply contracts.