Trinidad and Tobago methanal price set
CW has learned that the minority shareholders in Trinidad and Tobago Methanol Co. (TTMC; Point Lisas) will pay a total of $165.64 million, $150 million of it in cash, for the government`s 69% stake in the firm. Equity interest in TTMC will be Ferrostaal, 62.5%; Helm, 26.25%; and Colonial Life Financial, 11.25%. Finbar Gangar, minister of energy, confirms that the partners plan to consolidate TTMC with the other producer on the island, Caribbean Methanol, and with one of the new projects, Methanol IV. {open_quotes}The purchasers have also signaled their intention to float a portion of the new merged company on the local and international stock exchange,{close_quotes} he adds. The merged company would have total capacity for 2 million m.t./year methanol, representing 8% of worldwide production and 20% of the merchant market.
- OSTI ID:
- 549222
- Journal Information:
- Chemical Week, Journal Name: Chemical Week Journal Issue: 16 Vol. 159; ISSN CHWKA9; ISSN 0009-272X
- Country of Publication:
- United States
- Language:
- English
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