Methanex Corporation has bought OCI Global’s methanol business for $2.05bn and bolstered its ammonia and renewable natural gas (RNG) profiles in the process.
The transaction includes OCI’s interest in two methanol facilities in Beaumont, Texas, one of which also produces up to 340,000 tonnes of ammonia.
As part of the transaction, Methanex also acquires OCI HyFuels, which produces low-carbon methanol and sells volumes with trading and distribution capabilities for renewable natural gas (RNG).
Rich Sumner, President and CEO of Methanex, said the deal will strengthen its global production base.
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