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Mississippi Chemical Corporation produces and supplies nitrogen. During the fiscal year ended June 30, 2004 (fiscal 2004), the Company sold approximately 1.7 million tons of nitrogen products to fertilizer dealers and distributors, and industrial users. On May 15, 2003, Mississippi Chemical Corporation and nine of its direct and indirect subsidiaries filed voluntary petitions to reorganize under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Mississippi, Jackson, Mississippi. On August 9, 2004, the Company announced that it has entered into a definitive agreement with Terra Industries Inc. (Terra), pursuant to which Terra will acquire the Company. Consistent with the Terra transaction, the Company filed its first amended joint plan of reorganization with the Court on September 2, 2004. During fiscal 2004, the Company's phosphate, potash and melamine segments were classified as discontinued operations.(Source: 10-K)