29 December 2015
DETAILS
announced that on December 27, 2015,
the company successfully produced first methanol
from its newly completed one million tonne
Geismar 2 methanol plant in Geismar, Louisiana.
The plant was relocated from
the Company's production site in Punta Arenas, Chile.
John Floren,
President and CEO of Methanex
"We are extremely pleased to announce that
our Geismar 2 plant is producing methanol
roughly three months ahead of our original schedule.
We expect the plant to ramp up
to full production rates over the coming weeks.
With the start-up of Geismar 2, we have successfully grown
our operating capacity
by approximately three million tonnes
over the last three years.
The total combined cost
for the completion of the two Geismar plants
is approximately $1.4 billion.
We believe this represents a substantial cost savings
relative to a new-build plant, and we expect the Geismar 2 plant
will create significant cash-flow and value for shareholders."
"Our team has done an excellent job of managing
the complex and multidimensional undertaking
of relocating two plants from Chile to Louisiana.
The project was completed ahead of schedule
with excellent safety and environmental performance.
A sincere thanks to all of the team members
throughout the organization who have worked so hard
to achieve this important milestone."
Contact Methanex
Sandra Daycock
Director, Investor Relations
Methanex Corporation
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