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Celanese to explore setting up methanol plant with Mitsui
21
Apr '15
Specialty materials manufacturer Celanese Corporation will explore to set up a joint venture for producing methanol at its facility in Bishop, Texas with Mitsui & Co Ltd from Japan.

According to a Celanese press release, the potential methanol unit expected to have an annual capacity of 1.3 million tons, would leverage the design benefits of the Clear Lake, Texas methanol unit that is under construction.

Celanese has filed for air permits for the methanol unit and a final decision to build the unit will consider several factors, including prevailing methanol market conditions as well as construction costs.

The companies also entered into an amended five year arrangement for Celanese to purchase methanol from Mitsui, from their joint venture in Clear Lake, Texas, which is expected to start in October 2015.

“Together with Mitsui, we will explore the benefits of an additional methanol unit to ensure our long-term and competitive supply of methanol,” said Mark Rohr, chairman at Celanese Corporation.

“The supply agreement, along with our own methanol production at Clear Lake, Texas, will ensure that we are balanced in our US methanol needs, but will not completely offset our methanol-related earnings headwinds,” he added.

Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications.

With sales almost equally divided between North America, Europe and Asia, the company uses the full breadth of its global chemistry, technology and business expertise to create value for customers.

Based in Dallas, Texas, Celanese employs approximately 7,500 employees worldwide and had 2014 net sales of $6.8 billion. (AR)

Fibre2fashion News Desk - India

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