OCI to take over Dutch bio-methanol producer BioMCN
Dutch natural gas-based fertilisers and chemicals producer OCI NV (AMS:OCI) said on Thursday it has sealed a deal to acquire local bio-methanol company BioMCN for EUR 15 million (USD 16.8m).
“This acquisition gives us a foothold in both the European methanol markets and in the bio-methanol market,” said OCI’s CEO Nassef Sawiris.
Bio-methanol is chemically identical to regular methanol, which makes it perfectly suited to produce green alternatives of existing applications for the construction and automotive sectors, BioMCN says on its website. The company’s process converts bio feed stocks such as bio-gas into bio-methanol.
The transaction excludes BioMCN’s glycerin operations, which will continue doing business under the name of Dutch Glycerin Refinery BV.
BioMCN owns one operational methanol plant with a production capacity of 440 kilo tonnes per annum (ktpa) and a mothballed one of 430 ktpa.