Methanex Corp., Vancouver, B.C., is stepping up its methanol production and marketing operations on a large scale.
It has disclosed plans to buy the methanol operations of Fletcher Challenge Ltd. of New Zealand in a deal valued at more than $700 million (U.S.). It plans expansion of methanol capacity, citing a growing market for methanol-derived methyl tertiary butyl ether (MTBE) as an octane enhancer for oxygenated gasoline.
Subject to several approvals, Methanex will acquire from Fletcher Challenger:
Petralgas, a 520,000 ton/year methanol plant in New Zealand.
Synfuel, a New Zealand pl...