Methanex Provides Update on Geismar Operations
Methanex (MEOH) reported an unplanned outage at its Geismar 3 (G3) methanol plant in Louisiana, which occurred in late February 2025.
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Rhea-AI Summary
Methanex (MEOH) reported an unplanned outage at its Geismar 3 (G3) methanol plant in Louisiana, which occurred in late February 2025. The 1.8 million tonne facility requires repairs to its autothermal reformer (ATR), with plant restart estimated by early May 2025.
During the downtime, management will advance previously scheduled maintenance work that was initially planned as a separate three-week outage, which will no longer be necessary. The company expects the repairs' financial impact to primarily affect second quarter results due to reduced produced methanol sales, though repair costs are not anticipated to be material.
Positive
- Repair costs are not expected to be material
- Company eliminates need for separate planned three-week maintenance outage
Negative
- Unplanned outage at 1.8M tonne Geismar 3 plant until early May 2025
- Lower produced methanol sales will impact Q2 2025 financial results
Details
News Market Reaction – MEOH
The recorded move for MEOH in the trading session of this news was -12.90%.
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VANCOUVER, British Columbia, March 09, 2025 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (Nasdaq:MEOH) announced today that its 1.8 million tonne methanol plant, Geismar 3 (G3), in Geismar, Louisiana was impacted by an unplanned outage in late February. Upon completing various inspections, management has decided to complete repairs to the autothermal reformer (ATR), and management currently estimates a plant startup by early May 2025.
During this outage, management is taking the opportunity to bring forward the completion of other planned maintenance work on G3 which was part of a previously budgeted three-week outage which is no longer expected to be required. This outage is expected to primarily impact the second quarter financial results due to lower produced methanol sales. The cost of these repairs is not expected to be material.
Methanex is a Vancouver-based, publicly traded company and is the world’s largest supplier of methanol globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol “MX” and on the Nasdaq Stock Market in the United States under the trading symbol “MEOH”. Methanex can be visited online at www.methanex.com.
Inquiries:
Sarah Herriott
Director, Investor Relations
Methanex Corporation
604-661-2600 or Toll Free: 1-800-661-8851
www.methanex.com
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