Methanex to produce methanol in late 2014
GEISMAR (AP) — Methanex Corp. expects to be producing methanol from its 1.1 million-ton Geismar 1 facility in late 2014, while production from the 1.1 million-ton Geismar 2 plant is expected to begin production in early 2016.
Methanex recorded $100 million in spending related to both facilities during the second quarter.
Methanol is used as a feedstock to produce plastics, textiles, paint and plywood.
The Vancouver, British Columbia-based company reported adjusted net income of $91 million, or 94 cents per share