OCI news

OCI sold its methanol business, distributed $1.7B to shareholders, and retired 2033 bonds. European operations improved, and Beaumont ammonia project nears completion.

The merger aims to combine strengths, enhance financial resources, and leverage infrastructure expertise for global growth and investment opportunities.

The acquisition includes two methanol plants in Texas, a low-carbon methanol business, and a facility in the Netherlands. Expected to boost Methanex's production by 20% and add $275M in annual EBITDA.

The plant undergoes a three-week maintenance involving 1,000 tasks and 500 workers. Key upgrades include an energy-efficient stripper to cut energy use and CO2 emissions, prioritizing safety throughout.

The biogas plant will process 700 ktonnes of manure into biogas, dried manure pellets, and pure water, reducing methane and ammonia emissions and supporting Chemelot's sustainability goals.

The investment will refurbish a mothballed methanol line, creating 30 permanent jobs and several hundred indirect jobs. The plant will produce 438,000 tons annually, starting in Q4 2018.

After a 2015 fire, the plant underwent extensive repairs, including a new e-system and modern facilities. Production resumed in five months, with enhanced safety and efficiency measures in place.

The acquisition includes a methanol plant in the Netherlands, enhancing OCI's European market presence. BioMCN's glycerin activities will continue separately.