OCI N.V. Has Reached Agreement to Acquire Methanol Producer in The Netherlands
11 June 2015
OCI N.V. (NYSE Euronext: OCI) today announced it has closed the acquisition of BioMCN, a methanol producer and pioneer in bio-methanol production based in The Netherlands.
The acquisition adds 440 ktpa methanol design production capacity to OCI N.V.’s current methanol capacity at OCI Beaumont to reach a total of 1.35 million metric tons per annum (excluding BioMCN’s mothballed facility with capacity of 430 ktpa).
Recently, OCI Beaumont successfully completed its debottlenecking project and planned turnaround. The debottlenecking project increased the facility’s design capacity to 331 ktpa and 913 ktpa for the ammonia and methanol lines respectively. Since completion of the project, the ammonia production line has consistently operated above design capacity and the methanol production line has operated at the new design capacity.
Later this year, OCI N.V. will add additional capacity in the United States to its portfolio, when Iowa Fertilizer Company (IFCo), a greenfield nitrogen fertilizer plant located in Iowa, starts up. IFCo is on schedule for completion in the fourth quarter of 2015.
Construction of Natgasoline LLC, a world-scale 1.75 million metric ton per year greenfield methanol plant in Texas on a site adjacent to OCI Beaumont, is progressing well. The project is on track for completion in early 2017.