Eastman to Sell Methanol Plant in US14 Jan 2011 • by Natalie Aster
Eastman Chemical is planning to sell a closed methanol and ammonia plant in Texas, US, to a Swiss-based firm led by entrepreneur Deo Van Wijk.
The US-based company has not disclosed the financial terms of the transaction with Pandora Methanol, a subsidiary of Janus Methanol, icis.com reports.
The plant will have a methanol capacity of 850,000t per year and an ammonia capacity of 250,000t per year.
Eastman said the sale includes related ammonia tank and methanol terminal assets and a methanol pipeline in Beaumont.
It had bought the plant in 2007 for a $1.6bn coal-gasification project, but called off the project in late 2009.