OCI Partners LP (NYSE:OCIP) Files An 8-K Results of Operations and Financial ConditionItem 2.02
On March5, 2018, OCI Partners LP issued a press release reporting its financial results for the three months ended December31, 2017. The press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information furnished to Items 2.02 and 7.01 shall not be deemed to be “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The information furnished to Items 2.02 and 7.01 shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.
Item 2.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March2, 2018, Fady Kiama, the Chief Financial Officer of OCI GP LLC, the general partner (the “General Partner”) of OCI Partners LP (the “Partnership”), resigned his position with the General Partner. Mr.Kiama’s resignation will be effective on March15, 2018 and was not a result of any disagreement with the Partnership.
On March2, 2018, the Board of Directors of the General Partner appointed Beshoy Guirguis as Vice President and Chief Financial Officer of the General Partner effective March15, 2018.
Mr.Guirguis, 32, has served OCI N.V. (“OCI”), the indirect owner of the General Partner, as Chief Financial Officer of OCI Americas and will continue to serve in such capacity. Mr.Guirguis was a Senior Associate in OCI’s Business Development and Investments department from May 2014 to February 2017 and an Associate from October 2010 to May 2014. Since late 2011, he has been part of the leadership team responsible for OCI’s growth in North America, undertaking various roles including project development and financial management and gaining extensive experience in the financial, industrial, and petrochemical industries. As Chief Financial Officer of OCI Americas, Mr.Guirguis has had oversight responsibilities over the Partnership. Mr.Guirguis attended the University of Pennsylvania, where he earned Bachelor’s degrees in business and bioengineering, and graduated summa cum laude.
There are no arrangements or understandings between Mr.Guirguis and any other person to which Mr.Guirguis was selected as an officer. Mr.Guirguis does not have any family relationship with any director or executive officer of the Company or any person chosen by the Company 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.Guirguis had or will have a direct or indirect material interest.
| Item 2.02 | Regulation FD Disclosure. |
The information in Item 2.02 of this Current Report on Form 8-K is incorporated by reference into this Item 2.02.
| Item 2.02 | Financial Statements and Exhibits. |
(d) Exhibits
OCI Partners LP ExhibitEX-99.1 2 d545532dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 OCI Partners LP Reports 2017 Fourth Quarter Results and Announces $0.27 Quarterly Cash Distribution Nederland,…To view the full exhibit click here
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.