Mississippi Chemical reorganization plan confirmed

New York, Dec. 8 - Mississippi Chemical Corp. said that its second amended plan of reorganization was confirmed by the U.S. Bankruptcy Court for the Southern District of Mississippi.

The Yazoo City, Miss., producer of nitrogen and phosphorus products for crop nutrients and industrial applications said it expects to implement the plan by the end of the year.

Under the restructuring, its stock will be sold to Terra Industries Inc. after the phosphate business is spun off to some creditors.

Mississippi Chemical filed for bankruptcy on May 16, 2003. Its Chapter 11 case number is 03-02984.

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