Methanex, Hoechst Celanese dissolve methanol partnership

Journal Article · Wed Mar 31 00:00:00 EST 1993 · Chemical Week; (United States)

OSTI ID:6759258

Morris, G D.L.

One of the many joint venture alliances recently announced in the petrochemical sector is ending in divorce. Hoechst Celanese Chemical (Dallas) and Methanex Corp. (Vancouver) are in the process of dissolving the partnership they had formed to restart Hoechst Celanese's methanol plant at Clear Lake, TX. Hoechst Celanese says it is actively seeking replacement partners and has several likely prospects, while Methanex is concentrating on its other ventures. Those include its just-completed acquisition of Fletcher Challenge's (Auckland, NZ) methanol business and a joint venture with American Cyanamid to convert an ammonia plant at Fortier, LA to methanol. Methanex will still be the world's largest producer of methanol. Officially, the negotiations between Methanex and Hoechst Celanese just broke down over the last month or so,' says Steve Yurich, operations manager for the Clear Lake plant. Market sources, however, say that Methanex found itself with too many irons in the fire' and pulled out before it ran into financial or perhaps even antitrust difficulties.

• OSTI ID: 6759258
• Journal Information: Chemical Week; (United States), Vol. 152:12; ISSN 0009-272X
• Country of Publication: United States
• Language: English

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