Methanex produces first menthol in Geismar

     Methanex Corporation has announced that on Dec. 27, 2015, the company successfully produced first methanol from its newly completed one million tonne Geismar 2 methanol plant in Geismar. The plant was relocated from the Company's production site in Punta Arenas, Chile.

     “We are extremely pleased to announce that our Geismar 2 plant is producing methanol roughly three months ahead of our original schedule," said John Floren, President and CEO of Methanex. "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."

     Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol to major international markets.