Regulatory Filings • Jun 25, 2018
Regulatory Filings
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Amsterdam, The Netherlands / 25 June 2018
OCI N.V. (Euronext: OCI), Consolidated Energy Limited ("CEL") and Natgasoline LLC have today announced the start of commercial methanol production at their 5,000-metric ton per day, or 1.8 million metric tons per annum, methanol plant in Beaumont, Texas. The plant will continue its ramp-up in the coming weeks while under-going normal fine-tuning of equipment.
The world class facility, which was completed in April, will be the United States' largest methanol production facility. It is the only new capacity expected in the Americas to come online in 2018.
"The successful start of production at Natgasoline is a significant step forward in our capacity expansion program and marks the completion of OCI's second major greenfield facility in the United States within as many years", said Nassef Sawiris, Chief Executive Officer of OCI N.V. "Natgasoline helps to position OCI as one of the largest merchant methanol producers globally, thus providing an enhanced platform to serve our customers better, while generating attractive returns for our shareholders."
CEL, a global leader in methanol, is a subsidiary of Proman Holding AG ("Proman") and Helm AG. David Cassidy, CEO of Proman and Chairman of CEL and Natgasoline said, "I am delighted to see the Natgasoline facility come online. Its considerable production capacity will be instrumental in meeting customer demand for methanol. It is also an important operational milestone for us, allowing us to diversify our operations and grow our production capacity in the U.S. market."
OCI and CEL will lead the effort in marketing and distribution of Natgasoline's product, supporting sales through their respective distribution networks. In addition, the sponsors will contribute key management personnel and provide technical leadership in the startup, operations and maintenance of the facility.
OCI N.V. is a global producer and distributor of nitrogen fertilizers, methanol and other natural gas based chemicals, based in the Netherlands. OCI's methanol production capacity comprises OCI Partners LP in Texas, USA, BioMCN in the Netherlands, and 50% of Natgasoline LLC in Texas, USA. With Natgasoline now complete and following the expected start-up in Q4 2018 of BioMCN's second line, which is currently under refurbishment, OCI is on track to become one of the world's largest methanol producers with proportionate production capacity of almost 2.8 mtpa by the end of 2018. OCI is also a leading global nitrogen fertilizer producer with more than 9.6 mtpa of capacity produced in the Netherlands, the United States, Egypt and Algeria. OCI N.V. employs approximately 3,000 people and is listed on Euronext Amsterdam under the symbol "OCI".
Proman is an integrated industrial group and global leader in natural gas derived products and services. Headquartered in Switzerland, with assets in the United States, Trinidad and Oman, and ongoing expansion into Mexico, Proman is the world's second largest methanol producer and one of the ten leading fertilizer companies via, in part, its controlling stake in CEL. Proman is also a significant services business, with extensive experience in petrochemical plant operations, petrochemical and power plant construction, product marketing and logistics, and project management. The Group offers a fully integrated, diversified platform across the whole value chain from the production and conversion of natural gas to the marketing and delivery of end products to its customers.
CEL is the second largest producer of methanol in the world, through its 100% subsidiary MHTL, and is a leading producer of UAN and melamine. CEL owns and operates five methanol plants near MHTL's headquarters in the Point Lisas Industrial Estate in Trinidad, with a total capacity of 4.1m tonnes per annum, it also operates a natural-gas-tomethanol plant located in Pampa, Texas, and owns 50% of the Natgasoline methanol plant in Beaumont Texas. In addition, CEL owns three strategic, minority stakes via Oman Methanol Company LLC ("OMC"), a world scale methanol plant in Sohar, Oman, Nitrogen (2000) Unlimited ("N2000"), an ammonia plant and storage facility in Trinidad and Caribbean Nitrogen Company Limited ("CNC"), an ammonia plant and storage facility in Trinidad. CEL supplies methanol, UAN and melamine to approximately 200 end-customers, which included Fortune 500 companies and in 2017, were the largest importer of methanol by volume into the United States.
Rebecca Davies Interim Group Communications Director, Proman Group Email: [email protected] Tel: +41 (0)79 853 3152
Or:
Hans Zayed Director Email: [email protected]
Tel: +31 (0) 6 18 251 367
For additional information on OCI:
OCI stock symbols: OCI / OCI.NA / OCI.AS / OCINY
Honthorststraat 19 1071 DC Amsterdam The Netherlands
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