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Business
Methanex sets plant closure
September 5, 2005
| A version of this story appeared in
Volume 83, Issue 36
Methanex will shut down its 500,000-metric-ton-per-year methanol plant in Kitimat, British Columbia, early next year, ending its production of methanol in North America. The site, which also makes ammonia, has 127 Methanex employees. "It just doesn't make long-term economic sense to manufacture methanol in North America with high-cost energy," says CEO Bruce Aitken. The firm will supply customers with methanol made in Chile, Trinidad, and New Zealand. It will take a charge to earnings of about $35 million later this year.
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