Mississippi Phosphates files for Chapter 11 Bankruptcy - WLOX.com - The News for South Mississippi

Mississippi Phosphates files for Chapter 11 Bankruptcy

Late last week, Mississippi Phosphates curtailed production of diammonium phosphate due to a shortage in raw materials. (Photo source: WLOX) Late last week, Mississippi Phosphates curtailed production of diammonium phosphate due to a shortage in raw materials. (Photo source: WLOX)
PASCAGOULA, MS (WLOX) -

No layoffs. No furloughs. That's the word from Mississippi Phosphates as the company files Chapter 11 Bankruptcy.

Monday, the Pascagoula-based fertilizer manufacturer announced it would continue normal operations while moving forward with bankruptcy proceedings. The company said the move was necessary to obtain sufficient additional funding for its ongoing operations.

"We expect that through this filing, we can gain needed relief, secure an updated credit and funding facility and return to production operations in an expedited manner," said Stephen S. Russo, chief executive officer. "In addition to resuming operations, our plans call for the Company to continue maintenance and all environmental and safety programs during this reorganization."

Late last week, Mississippi Phosphates curtailed production of diammonium phosphate due to a shortage in raw materials. Most of its operations, however, continued without interruption. Those include sulfuric acid operations, ammonia terminal operations, dock and port operations and all environmental systems, controls and monitoring.

Copyright 2014 WLOX. All rights reserved.

  • NEWSMore>>

  • Keith Davis turns down job as Moss Point police chief

    Keith Davis turns down job as Moss Point police chief

    Friday, February 23 2018 7:27 PM EST2018-02-24 00:27:34 GMT
    Marine Patrol Chief, Keith DavisMarine Patrol Chief, Keith Davis

    Moss Point Police Department is once again searching for a police chief. Keith Davis announced Friday that he would not be accepting the position.

    More >>

    Moss Point Police Department is once again searching for a police chief. Keith Davis announced Friday that he would not be accepting the position.

    More >>
  • Hancock County student facing charges after school shooting threat

    Hancock County student facing charges after school shooting threat

    Friday, February 23 2018 7:13 PM EST2018-02-24 00:13:56 GMT
    School leaders in Hancock County say they've identified the student who made the threat, taken the child into custody for questioning and say no weapon was ever found.  (Photo source: WLOX)School leaders in Hancock County say they've identified the student who made the threat, taken the child into custody for questioning and say no weapon was ever found.  (Photo source: WLOX)

    According to Sheriff Ricky Adam, one student is now facing charges after a threat was made toward Hancock Middle School.

    More >>

    According to Sheriff Ricky Adam, one student is now facing charges after a threat was made toward Hancock Middle School.

    More >>
  • JABOS providing prom dresses at low cost

    JABOS providing prom dresses at low cost

    Friday, February 23 2018 7:06 PM EST2018-02-24 00:06:43 GMT
    The organization provides gently used long and short formal dresses, accessories, and shoes to young ladies at a very low cost. All items are $15 or less. (Photo source: JABOS Facebook)The organization provides gently used long and short formal dresses, accessories, and shoes to young ladies at a very low cost. All items are $15 or less. (Photo source: JABOS Facebook)

    The Junior Auxiliary of Biloxi-Ocean Springs (JABOS) is hosting its annual Prom Closet at the Ocean Springs Senior Citizens Center Saturday, Feb. 24 from 10 a.m. to 2 p.m.

    More >>

    The Junior Auxiliary of Biloxi-Ocean Springs (JABOS) is hosting its annual Prom Closet at the Ocean Springs Senior Citizens Center Saturday, Feb. 24 from 10 a.m. to 2 p.m.

    More >>
Powered by Frankly