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Business

Eastman To Sell Methanol Plant

by Alexander H. Tullo
January 17, 2011 | APPEARED IN VOLUME 89, ISSUE 3

Eastman Chemical has agreed to sell an idle methanol and ammonia plant in Beaumont, Texas, to Pandora Methanol, a wholly owned subsidiary of Switzerland-based Janus Methanol. Terms of the deal were not disclosed. Pandora expects to restart the plant later this year. Eastman secured an option to buy the facility in 2007 from Terra Industries. It was the centerpiece of a now-defunct project to build a $1.6 billion complex that would have made chemicals via the gasification of petroleum coke.

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