The troubles of Mississippi Chemical have been knee-deep, but hopes are rising. The fertilizer maker has been hurt by high raw material costs for making nitrogen. As a result, Mississippi Chemical reported losses for several years and filed for Chapter 11 bankruptcy protection in May 2003. In December 2004, however, Terra Industries bought Mississippi Chemical for $265 million and the company exited Chapter 11. Mississippi Chemical is now a wholly owned subsidiary of Terra. Prior to 2004, additional sales came from melamine, diammonium phosphate or DAP, and potash. Restructuring has led the company to sell all assets other than the nitrogen business.