Netherlands based producer of industrial chemicals OCI N.V. said it will acquire BioMCN, a methanol producer and pioneer in bio-methanol production also based in the Netherlands for €15 million.
“BioMCN’s glycerin activities are not part of the transaction and will be continued under the name of Dutch Glycerin Refinery B.V.,” OCI added in a press release.Netherlands based producer of industrial chemicals OCI N.V. said it will acquire BioMCN, a methanol producer and pioneer in bio-methanol production #
BioMCN is one of Europe’s largest methanol producers and owns two plants, of which, one is operational and has a production capacity of 440 KTPA and another, which is mothballed with capacity of 430 KTPA.
The plant site is located at the Chemical Park Delfzijl in the Netherlands, which is connected to the national natural gas grid and has easy logistical access to major European end markets via road, rail, barge and sea freight.
According to OCI, the acquisition creates a foothold for OCI in the European methanol market.
“Methanol consumption in Western Europe is currently more than 7 million tons per year, of which approximately 30 per cent is used in transportation fuel applications,” it informed.
It further added, “Europe currently imports more than 5 million tons of methanol and this deficit is expected to continue to increase for the foreseeable future.”
OCI N.V. currently produces methanol in the United States at the OCI Beaumont facility in Texas with a production capacity of 913 KTPA.
OCI will add another 1.75 MTPA capacity plant, a new world-scale green-field methanol plant under construction on a site adjacent to OCI Beaumont.
Excluding BioMCN’s mothballed facility with capacity of 430 KTPA; the new acquisition will take OCI N.V.’s methanol capacity to 1.35 million MTPA.
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 methanol production line has operated at the new design capacity,” the industrial chemicals producer observed.
OCI N.V. CEO Nassef Sawiris said, “This is an important addition to our natural gas-based portfolio of products at a time when natural gas prices are becoming more favourable in Europe.”
“We are firm believers in the methanol industry and its growth prospects and this acquisition gives us a foothold in both the European methanol markets and in the bio-methanol market,” Sawaris too added.
OCI N.V. listed on NYSE Euronext in Amsterdam, is a global producer and distributor of natural gas-based fertilisers & industrial chemicals based in the Netherlands.
It produces nitrogen fertilisers, methanol and other natural gas basedproducts, serving agricultural and industrial customers from the Americas to Asia. (AR)
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