Methanex Corp

Description

Methanex Corporation is a Canadian-based multinational company that produces and supplies methanol across Europe, South America, Asia Pacific and North America.

Methanol or methyl alcohol is a water-soluble and biodegradable chemical liquid.

It is a naturally occurring chemical compound that is used in production of several consumer and industrial products, including:

• Foams
• Resins
• Methyl Tertiary-Butyl-Ether
• Plywood floors
• Synthetic fibers
• Building materials
• Plastics
• Energy applications
• Paint
• Silicon sealants
• Washers and fluid

Methanol also serves as vehicle fuel, which can be used in high proportion blends or existing road vehicles by blending it with gasoline in low quantity.

In China methanol is being increasingly used as a vehicle fuel due to its environment-friendly characteristics, the company claims.

Through its wholly-owned subsidiary, Waterfront Shipping, the company transports methanol and petroleum products across various international markets.

Methanex Corporation owns and operates various production sites and supply chain networks. It supplies methanol by truck, barge, tanker, rail and pipeline to global customers.

The company's production sites are located in:

• Trinidad: Caters to methanol customers in Europe, the Americas and the Asia Pacific.

• New Zealand: Supplies to customers in the Asia Pacific through three production facilities.

• Egypt: Operates through an equal joint venture facility located on the Mediterranean Sea. It supplies the liquid chemical to domestic and European markets.

• Canada: The company operates a plant in Medicine Hat, southeastern Alberta, and supplies methanol via rail or tanker truck to North American customers.

• United States: The facility consists of two plants in Geismar.

• Chile: Operates two plants in Punta Arenas and caters to Asia and South American methanol markets.

Methanex Corporation claims to follow best environmental practices across the production chain. In addition, it claims to promote methanol safe handling, use and distribution.

The company’s stocks trade on the Toronto Stock Exchange with the symbol ‘MX’.

The Canadian-company claims that by 2023 nearly 60 per cent of its fleet will utilize methanol-dual fuel technology. In addition, the company reportedly sent nearly 87 per cent of hazardous waste for recycling in 2020, and 13 per cent for disposal.