Methanex announces outage at Geismar 3 methanol plant in Louisiana

Methanex (MEOH) announced that its 1.8M ton methanol plant, Geismar 3, 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, and management currently estimates a plant startup by early May. 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.