Canada’s Nexen plans $50m, 33% sodium chlorate hike

18 July 2003 18:03  [Source: ICIS news]

TORONTO (CNI)--Canadian energy and chemicals firm Nexen will complete a 33%, Can$50m ($35.5m/Euro31.7m) sodium chlorate expansion at Brandon, Manitoba in the fourth quarter of 2004, the company confirmed Friday.

With 260 000 tonne/year, Brandon will then be the largest sodium chlorate facility in the world, officials said.

Nexen’s top executive Charlie Fisher said the expansion in Brandon is meant to replace higher cost capacity the company idled earlier this year in Taft, Louisiana, due to expensive energy there.

Last year, Nexen already completed a 70 000 tonne/year expansion project in Brandon. Nexen’s sodium chlorate production there benefits from Manitoba’s low-cost hydroelectric power base.

Calgary, Alberta-based Nexen reported Thursday income before tax in its sodium chlorate business of Can$9m on sales of Can$92m, for the second quarter ended 30 June. This compares to an income of Can$4m and sales of Can$86m in the same period the year before.

By: Stefan Baumgarten
+1 713 525 2653

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