26 July 2013 16:14 [Source: ICIS news]
MOSCOW (ICIS)--The output of Russia's major methanol producer Metafrax was stable in the first half of this year, the company said Friday.
In January-June, Metafrax produced 537,000 tonnes of methanol, unchanged from the same period last year.
The company also produced 155,000 tonnes of formalyne, 0.6% down year on year, and 90,000 tonnes of urea-formaldehyde concentrate (UFC), unchanged from the first half of 2012, it said.
Methanol export sales increased due to favourable market conditions, Metafrax head Armen Garslyan said in a statement. In January-June this year, Metafrax exported 43.5% of its total output, according to the company’s statement.
Metafrax’s methanol production facility is due to shut down for regular maintenance works in the third quarter, but the company's annual methanol output volume will remain unaffected to reach about 1m tonnes, Garslyan said.
The company, based in Gubakha, Perm region, Northern Russia, is the country's leading methanol producer and exporter.
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