Methanex Acquires Pacific Ammonia Assets

On July 1, 2003, Methanex Corporation, a producer and marketer of methanol, acquired the Kitimat, B.C. ammonia production assets of Pacific Ammonia Inc., a subsidiary of Mitsui & Co., Ltd., for US$20 million. Concurrent with the asset purchase, Methanex entered into an off-take agreement to supply Mitsui with 100 per cent of the ammonia produced by the plant through to the end of 2005.

Methanex was represented in-house by Randy Milner, senior vice-president, general counsel and secretary, and by McCarthy T├ętrault LLP with a team that included Ted Koffman, David Crane and Darren Watt (competition). Billy Garton and Jay LeMoine of Bull, Housser & Tupper acted for Mitsui & Co. and Pacific Ammonia.