Methanex purchase of Texas production approved by U.S. regulators

By MEDICINE HAT NEWS on June 14, 2025.

newsdesk@medicinehatnews.com

Methanex says U.S. regulators have approved its purchase of a competitor’s methanol and ammonia production plants in Texas.

The Vancouver-based global company headquartered in Vancouver and with a major facility in Medicine Hat announced the plan to purchase OCI in September 2024 for US$2.05 billion.

On Friday, Methanex stated that the review period under U.S. anti-trust legislation has passed and they expect the deal to close June 27.

“Given our extensive integration planning, we expect to move quickly upon closing to deliver the strategic benefits of this acquisition,” said Methanex CEO Rich Sumner.

Methanex acquires OCI’s main Beaumont, Texas facility that has an annual production capacity of 910,000 tonnes of methanol and 340,000 tonnes of ammonia, as well as an idled 1-million tonne per year methanol plant in the Netherlands.

The terms involve US$1.15 billion in cash, 9.9 million Methanex common shares valued at US$450 million and assumption of US$450 million in debt and leases.

Methanex has said it expects to gain $30 million per year in efficiencies. The Medicine Hat plant has an annual capacity of 650,000 tonnes.

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