Yesterday, MI member OCI N.V. announced that it had reached an agreement to acquire BioMCN for EUR 15 million.
BioMCN is one of Europe’s largest methanol producers, owning two methanol plants at the Chemical Park Delfzijl in The Netherlands. According to data provided by Hydrocarbon Processing, methanol consumption in Western Europe is currently more than 7 million tons per year, of which approximately 30% is used in transportation fuel applications.
OCI N.V. CEO and MI Board member Nassef Sawiris commented, “This is an important addition to our natural gas-based portfolio of products at a time when natural gas prices are becoming more favorable in Europe. We are firm believers in the methanol industry and its growth prospects. Methanol is a diverse building block for industrial chemicals and can be used as a transportation fuel. This acquisition gives us a foothold in both the European methanol markets and in the bio-methanol market.” More information can be found here