Sector News

OCI N.V. Has Reached Agreement to Acquire BioMCN

June 15, 2015
Energy & Chemical Value Chain
OCI N.V. (NYSE Euronext: OCI) today announced it has reached agreement to acquire BioMCN, a methanol producer and pioneer in bio-methanol production based in The Netherlands, for EUR 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. with the same shareholder.
 
BioMCN is one of Europe’s largest methanol producers and owns two methanol plants, of which one is operational (production capacity of 440 ktpa) and one mothballed (430 ktpa). The plant site is located at the Chemical Park Delfzijl, The Netherlands, 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.
 
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% is used in transportation fuel applications. 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 OCI Beaumont in Texas with a production capacity of 913 ktpa. OCI will add another 1.75 mtpa of capacity at Natgasoline, a new world-scale greenfield methanol plant under construction on a site adjacent to OCI Beaumont.
 
OCI N.V. CEO Nassef Sawiris commented: “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. Methanol is a diverse building block for industrial chemicals and can be used as a transportation fuel. This acquisition gives us a foothold in both the European methanol markets and in the bio-methanol market.” 
 
Source: OCI
 

comments closed

Related News

April 26, 2024

CIECH Group will change its name to Qemetica in June

Energy & Chemical Value Chain

We are closing the chapter of the Chemicals Import Export Headquarters, and opening a new chapter under the name of Qemetica – a chemical group driving many industries on all continents. Therefore, the change of name is also accompanied by the adoption of the key goals of the business strategy for the next 6 years. – says Kamil Majczak, President of the Management Board.

April 26, 2024

Neste annouces first success in processing pyrolysis oil from discarded tires

Energy & Chemical Value Chain

In its efforts to advance chemical recycling, Neste has successfully conducted its first processing trial run with a new challenging raw material, liquefied discarded tires. In the processing run, Neste produced high-quality raw material for new plastics and chemicals.

April 26, 2024

Sika opens synthetic fibers production facility in Peru

Energy & Chemical Value Chain

Sika is opening a state-of-the-art facility in Lima, Peru, to produce synthetic macro fibers, and expanding the rollout of a product range with great growth potential in Latin America. With this innovative technology, Sika is further strengthening its position as a leading supplier to the mining industry and a strong partner for infrastructure projects.

How can we help you?

We're easy to reach