Methanex Planning to Relocate a Methanol Plant to the US Gulf Coast
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/17/12 -- Methanex Corporation (TSX: MX)(NASDAQ: MEOH)(SANTIAGO: Methanex) announced today that it has secured land in Geismar, Louisiana, and is planning to move one of its idle methanol plants in Chile to this location. Site-specific engineering has begun and the plant is expected to be operational in the second half of 2014.
Bruce Aitken, President and CEO of Methanex commented, "The outlook for low North American natural gas prices makes Louisiana an attractive location in which to produce methanol. It is also a large methanol-consuming region, possesses world-class infrastructure, skilled workers and is a positive environment in which to do business. We have a number of parallel work paths ongoing and expect to make a final investment decision on this project in the third quarter of this year."
Mr. Aitken added, "This project represents a unique opportunity in the industry to add capacity at a lower capital cost and in about half the time of a new greenfield methanol plant. The timing of this project is excellent: there is strong demand growth for methanol globally and there is little new production capacity being added to the industry over the next several years."
Methanex is a Vancouver-based, publicly traded company and is the world's largest supplier of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX"; on the NASDAQ Global Market in the United States under the trading symbol "MEOH"; and on the Foreign Securities Market of the Santiago Stock Exchange in Chile under the trading symbol "Methanex". Methanex can be visited online at .
FORWARD-LOOKING INFORMATION WARNING
This press release contains forward-looking statements with respect to us and our industry. Statements that include the words "believes," "expects," "may," "plans" or other comparable terminology and similar statements of a future or forward-looking nature identify forward-looking statements.
More particularly and without limitation, any statements regarding the following are forward-looking statements:
We believe that we have a reasonable basis for making such forward-looking statements. The forward-looking statements in this document are based on our experience, our perception of trends, current conditions and expected future developments as well as other factors. Certain material factors or assumptions were applied in drawing the conclusions or making the forecasts or projections that are included in these forward-looking statements, including, without limitation, future expectations and assumptions concerning the following:
However, forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The risks and uncertainties primarily include those attendant with producing and marketing methanol and successfully carrying out major capital expenditure projects in various jurisdictions, including without limitation:
Having in mind these and other factors, investors and other readers are cautioned not to place undue reliance on forward-looking statements. They are not a substitute for the exercise of one's own due diligence and judgment. The outcomes anticipated in forward-looking statements may not occur and we do not undertake to update forward-looking statements except as required by applicable securities laws.
Contacts:
Jason Chesko
Director, Investor Relations
Methanex Corporation
604 661 2600 or Toll Free: 1 800 661 8851
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Datum: 17.01.2012 - 19:50 Uhr
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News-ID 1073876
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