Methanex guns for pole position in the methanol market

Journal Article · · Chemical Week; (United States)

OSTI ID:5557616

Wood, A

Methanex Corp. (Vancouver) and Hoechst Celanese Chemical (Dallas) have formalized their joint venture, Gulf Coast Methanol, which will restart Hoechst Celanese's idled methanol plant at Clear Lake, TX. Methanex has also announced a $35-million deal to acquire more methanol operations from Metallgesellshaft (MG;Frankfurt). MG owns 28% of Methanex, which was formed from the merger of part of MG's methanol interests with those of Ocelot Industries. The deal involves the issue of shares and a cash payment to MG in return for the rest of MG's methanol business. MG will also provide Methanex with ongoing credit support arrangements for continuing operations. Methanex will take over the 70% interest held by MG in a previously announced venture to convert American Cyanamid's (Wayne, NJ) idled Fortier, LA ammonia plant to methanol. Methanex will spend about $97-million for the conversion, with startup expected at the end of 1993.

• OSTI ID: 5557616
• Journal Information: Chemical Week; (United States), Journal Name: Chemical Week; (United States) Vol. 151:8; ISSN CHWKA9; ISSN 0009-272X
• Country of Publication: United States
• Language: English

Related Subjects

10 SYNTHETIC FUELS
100700* -- Synthetic Fuels-- Economic
Industrial
& Business Aspects-- (1990-)
ALCOHOLS
CHEMICAL INDUSTRY
CHEMICAL PLANTS
COMPETITION
COOPERATION
HYDROXY COMPOUNDS
INDUSTRIAL PLANTS
INDUSTRY
JOINT VENTURES
MARKET
METHANOL
ORGANIC COMPOUNDS
PRODUCTION