Methanex Proceeds with a Second Methanol Plant in Geismar, Louisiana
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/24/13 -- Methanex Corporation (TSX: MX)(NASDAQ: MEOH) announced today that it has reached a final investment decision to proceed with the relocation of a second one million tonne per year methanol plant from its Chile site to Geismar, Louisiana. The plant is expected to be operational by early 2016, and has an estimated total cost of approximately US$550 million.
John Floren, President and CEO of Methanex commented, "We are excited to move forward with the Geismar II project. We have made excellent progress with our first plant relocation, Geismar I, and that project is proceeding on schedule and on budget. The first shipment of equipment has been loaded and is currently in transit to Louisiana. Methanex will leverage its experience gained from Geismar I to ensure a smooth execution for Geismar II."
Mr. Floren added, "The global demand outlook for methanol is very favourable and demand is expected to outpace capacity additions in the industry over the next several years. Relocating a second plant to Louisiana allows us to benefit quickly from the competitive natural gas price environment in North America and add additional molecules to our system to supply our customer's growing requirements for methanol. The two Geismar projects, combined with our other growth initiatives in New Zealand and Medicine Hat, represent three million tonnes of additional operating capacity which we believe will create significant value for shareholders."
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" and on the NASDAQ Global Market in the United States under the trading symbol "MEOH".
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 "targeted", "expected", "will", "believe" 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:
Investor Inquiries:
Sandra Daycock
Director, Investor Relations
Methanex Corporation
604-661-2600 or Toll Free: 1 800 661 8851
Media Inquiries:
Marc Dupont
Director, Government and Public Affairs
Methanex Corporation
604 661 2600 or Toll Free: 1 800 661 8851
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Datum: 24.04.2013 - 18:10 Uhr
Sprache: Deutsch
News-ID 1220030
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