OCI Partners LP (NYSE:OCIP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

OCI Partners LP (NYSE:OCIP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 1, 2017, Frank Bakker, the Chief Executive Officer and a director of OCI GP LLC, the general partner (the “General Partner”) of OCI Partners LP (the “Partnership”), tendered a letter of resignation from all his positions with the General Partner to the Board of Directors (the “Board”) of the General Partner. Mr. Bakker’s resignation will be effective on May 12 and was not a result of any disagreement with the Partnership.

On May 4, 2017, the Board appointed Ahmed K. El-Hoshy as the President and Chief Executive Officer of the General Partner effective May 12, 2017.

Mr. El-Hoshy, 33, was appointed as a member of the Board in July 2016 and will continue to serve in such capacity. Mr. El-Hoshy currently serves as Chief Executive Officer of OCI N.V. in the Americas (“OCI Americas”) and will continue to serve in such capacity. Mr. El-Hoshy was previously a Director of Business Development and Investments at OCI N.V. (“OCI”) since January 2012. Mr. El-Hoshy has led or been actively involved in new investments, developments, financings and M&A transactions of the firm in North America and Europe across multiple sectors including fertilizer, methanol, and infrastructure. From 2009 to 2011, while with OCI, Mr. El-Hoshy structured a joint venture between OCI and Morgan Stanley focusing on infrastructure investments in the Middle East and Africa. Before joining OCI, in 2008-2009, Mr. El-Hoshy was a part of Goldman Sachs’ investment banking operations in Dubai, as well as the Special Situations Group focusing on balance sheet investments for the bank in the Middle East and Africa. Mr. El-Hoshy began his career in Goldman Sachs’ Leveraged Finance group in New York in 2006, where he structured and executed leveraged buyouts and recapitalizations, with a particular focus on industrial and natural resource-related clients. There are no arrangements or understandings between Mr. El-Hoshy and any other person to which Mr. El-Hoshy was selected as an officer. Mr. El-Hoshy does not have any family relationship with any director or executive officer of the General Partner or any person chosen by the General Partner to become a director or executive officer. There have not been any transactions since the beginning of the Partnership’s last fiscal year, nor are there any proposed transactions, in which the Partnership was or is to be a participant involving amounts exceeding $120,000 and in which Mr. El-Hoshy had or will have a direct or indirect material interest.

Mr. Bakker’s resignation has created a vacancy in our Board. OCI USA Inc., the sole member of the General Partner and an indirect, wholly-owned subsidiary of OCI, has made no decision regarding the filling of the vacancy at this time.

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About OCI Partners LP (NYSE:OCIP)

OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is located on the Texas Gulf Coast near Beaumont. The Company has an annual methanol production capacity of approximately 912,500 metric tons and an annual ammonia production capacity of approximately 331,000 metric tons. It purchases natural gas from third parties and processes the natural gas into synthesis gas, which it then further processes in the production of methanol and ammonia. It stores and sells the processed methanol and ammonia to industrial and commercial customers for further processing or distribution. Its methanol production unit comprises Foster-Wheeler-designed twin steam methane reformers for synthesis gas production, over two Lurgi-designed parallel low-pressure, water-cooled reactors and approximately four distillation columns. The Haldor-Topsoe-designed ammonia synthesis loop at its facility processes hydrogen produced by methanol production process.

OCI Partners LP (NYSE:OCIP) Recent Trading Information

OCI Partners LP (NYSE:OCIP) closed its last trading session up +1.20 at 9.05 with 114,704 shares trading hands.

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