Global Methanol Giant Expands with Major Texas Plants in $1.2B Deal
Rhea-AI Filing Summary
Methanex Corporation (TSX:MX, NASDAQ:MEOH) has completed its strategic acquisition of OCI Global's international methanol business, a transaction first announced in September 2024. The deal, valued at approximately $1.2 billion in cash, includes the issuance of 9.9 million common shares and assumption of $450 million in debt and leases.
The acquisition encompasses:
- Two world-scale methanol facilities in Beaumont, Texas with access to North American natural gas feedstock (one facility also produces ammonia)
- A low-carbon methanol production and marketing business
- An idle methanol facility in the Netherlands
In connection with the transaction, Methanex has filed a base shelf prospectus in British Columbia and with the SEC under Form F-10. CEO Rich Sumner emphasized focus on smooth integration, safe operations, and delivering strategic benefits. This acquisition strengthens Methanex's position as the world's largest producer and supplier of methanol globally.
Positive
- Completed strategic acquisition of OCI Global's methanol business, significantly expanding production capacity with two world-scale facilities in Texas
- Acquired low-carbon methanol production and marketing business, strengthening environmental positioning
- Transaction provides access to robust North American natural gas feedstock, potentially improving cost structure
- Deal structure includes $1.2B cash, 9.9M shares, and $450M debt assumption - maintaining financial flexibility while expanding operations
Negative
- Assumed significant debt of approximately $450M, increasing leverage and financial obligations
- Integration risks and costs associated with merging operations could impact near-term performance
- Acquired idled facility in Netherlands may require additional capital investment to restart operations
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF JUNE 2025
COMMISSION FILE NUMBER 000-20115
METHANEX CORPORATION
(Registrant’s name)
SUITE 1800, 200 BURRARD STREET, VANCOUVER, BC V6C 3M1 CANADA
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
| Form 20-F ☐ | | Form 40-F ☑ |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
| NEWS RELEASE | |
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Methanex Corporation
1800 - 200 Burrard St.
Vancouver, BC Canada V6C 3M1
Investor Relations: 604-661-2600
Toll-Free: 1-800-661-8851
http://www.methanex.com
For immediate release
June 27, 2025
METHANEX CORPORATION COMPLETES ACQUISITION OF OCI GLOBAL’S METHANOL BUSINESS
VANCOUVER, BRITISH COLUMBIA (June 27, 2025) – Methanex Corporation (TSX:MX) (Nasdaq:MEOH) announced today that it has completed the previously announced acquisition of OCI Global’s (“OCI”) international methanol business.
As part of the transaction, first announced in September 2024, Methanex has acquired an interest in i) two world-scale methanol facilities in Beaumont, Texas, which have access to robust North American natural gas feedstock and one of which also produces ammonia, ii) a low-carbon methanol production and marketing business, and iii) a currently idled methanol facility in the Netherlands. The transaction consideration consists of approximately $1.2 billion of cash, excluding adjustments to working capital and cash acquired, the issuance of approximately 9.9 million common shares of Methanex and the assumption of approximately $450 million in debt and leases.
“We are excited to complete this important strategic acquisition and to welcome a talented team to Methanex,” said Rich Sumner, President and CEO of Methanex. “I want to thank the individuals that worked diligently to successfully close this acquisition. As we move forward, our focus is on ensuring a smooth integration, maintaining safe and stable operations, and delivering the strategic benefits of this acquisition.”
In connection with the transaction, Methanex has filed a base shelf prospectus (the “Prospectus”) with the securities regulatory authority in the Province of British Columbia in accordance with a customary registration rights agreement entered into between Methanex and OCI. The Prospectus will also be filed with the U.S. Securities and Exchange Commission as part of a registration statement on Form F-10 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States.
Methanex is a Vancouver-based, publicly traded company and is the world’s largest producer and 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.
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Inquiries
Sarah Herriott
Director, Investor Relations
Methanex Corporation
604-661-2600 or Toll Free: 1-800-661-8851
www.methanex.com
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | METHANEX CORPORATION | |||||
| Date: June 27, 2025 | | By: | | /s/ KEVIN PRICE | ||
| | | Name: | | Kevin Price | ||
| | | Title: | | SVP, General Counsel & Corporate Secretary | ||