Praxair,
Inc. (NYSE:PX) today announced it has signed a long-term agreement
to supply oxygen to U.S. Methanol LLC’s new facility in Institute, West
Virginia. The customer’s facility will produce methanol for use in the
production of plastics, varnishes, medicines, adhesives and textiles.
Praxair will build a vacuum pressure swing adsorption (VPSA) plant that
is expected to start up in 2019.
"We are proud to partner with U.S. Methanol as they build their first
facility in West Virginia,” said Todd Lawson, vice president, east
region for Praxair’s U.S. industrial gases business. “Praxair has a
long-term expertise building and operating VPSA plants, and we look
forward to providing them with a safe and effective solution.”
U.S. Methanol’s West Virginia facility will be a major regional
manufacturer benefiting from the abundance of gas in the Marcellus and
Utica shale fields. The low cost of producing natural gas and related
byproducts is expected to expand the chemical industry in the area. The
company selected the site because of its access to extensive water, rail
and highway systems and low cost raw materials.
“We chose Praxair because of their reputation as a reliable supplier,”
said Frank Bakker, U.S. Methanol chief executive officer. “They are an
industry leader in VPSA technology, and we look forward to working with
them as we expand our business in a region that is positioned for future
growth.”
About Praxair
Praxair, Inc. is a leading industrial gas company in North and South
America and one of the largest worldwide.
With market capitalization of approximately $40 billion and 2017 sales
of $11 billion, the company employs over 26,000 people globally and has
been named to the Dow Jones® World Sustainability Index for 15
consecutive years. Praxair produces, sells and distributes atmospheric,
process and specialty gases,
and high-performance surface
coatings. Our products, services
and technologies are making our planet more productive by
bringing efficiency and environmental benefits to a wide variety of industries,
including aerospace,
chemicals,
food
and beverage, electronics,
energy,
healthcare,
manufacturing, primary metals
and many others. For more information about the company, please visit
our website at www.praxair.com.
About US Methanol
U.S. Methanol was founded in 2016 with the mission to reliably produce
and deliver the highest quality methanol at the lowest delivered price
to industrial consumers. The company entered the methanol production
industry with the acquisition and planned relocation of two existing
methanol production facilities having total capacity of more than
350,000 metric tonnes (107 million gallons) per year. It is relocating
two methanol plants from Brazil and Slovenia to natural gas-rich USA.
The company will offer customers pure, made-in-the-USA
methanol—reliably, safely, and at a very competitive price.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180719005029/en/
Copyright Business Wire 2018
Source: Business Wire
(July 19, 2018 - 8:30 AM EDT)
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