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Mitsubishi announces termination of proposed $1 Billion Geismer Plant
Posted on 1/9/25 at 12:13 pm
Posted on 1/9/25 at 12:13 pm
quote:
Yesterday, Mitsubishi announced that it has resolved to terminate consideration of a new methyl methacrylate (MMA) monomer plant in Geismar, Louisiana. Many of the reasons the company cited for doing so were first detailed in IEEFA’s July 2024 report about the risks of the plant, which had already been delayed at the time of the report.
Mitsubishi decided to discontinue the plant in part because of “the prospect of meeting immediate demand with existing MMA monomer manufacturing facilities in Tennessee and elsewhere and the failure in negotiations with customers to obtain long-term commitments on transactions after the execution of the Investment Plan based on increases in capital investment stemming from inflation and other factors”.
In its report, IEEFA stated that the MMA market is oversupplied both in the U.S. and globally. New capacity additions, like the Geismar project, were likely to lower the utilization rate of U.S. MMA producers—an impact that reflects oversupply and with it, flat pricing and tighter margins. Additionally, the global economy is growing at a much slower rate than when the Geismar plant was planned in 2014 and slow growth in the current paradigm impairs profits. Mitsubishi’s announcement confirms IEEFA’s findings.
LINK
quote:
The decision from Japanese conglomerate Mitsubishi comes after an independent report last summer determined the facility was not economically feasible and would result in the unnecessary release of greenhouse gases.
The new methyl methacrylate (MMA) monomer plant in Geismar would have made materials used in products ranging from automobile headlights to aquariums. Plans called for 125 employees, according to Mitsubishi. When the project was announced in December 2020, Louisiana Economic Development predicted it would create another 669 indirect jobs.
In a statement to investors Monday, Mitsubishi said it will be able to meet demand for MMA products from its plant in Tennessee and other locations.
LINK /
9
Posted on 1/9/25 at 12:15 pm to ragincajun03
Aaaaaaaaaaaand it's gone....
Posted on 1/9/25 at 12:17 pm to ragincajun03
Sounds like someone’s cousin did get a kickback.
Posted on 1/9/25 at 12:17 pm to ragincajun03
Truck Nutz On [Off}
Posted on 1/9/25 at 12:18 pm to ragincajun03
Unfortunate for Geismar, but this was driven more by the MMA market than anything regarding Louisiana.
Posted on 1/9/25 at 12:19 pm to ragincajun03
They need methyl methacrylate NOW. Not in 3-4 years when the plant would start producing product. That's why they are pulling the plug.
This post was edited on 1/9/25 at 12:19 pm
Posted on 1/9/25 at 12:19 pm to ragincajun03
quote:
an impact that reflects oversupply and with it, flat pricing and tighter margins.
Keep supply low, demand high, maximize profit
Posted on 1/9/25 at 12:20 pm to Shexter
and tbh if this was planned for geismar, the traffic would be worse than methanex at it's peak.
Posted on 1/9/25 at 12:22 pm to monsterballads
Ashland Road is already a shite show at shift change times.
Posted on 1/9/25 at 12:23 pm to ragincajun03
Louisiana bureaucracy. Project will go to Texas.
Posted on 1/9/25 at 12:24 pm to ragincajun03
there's nowhere for anyone to go in the afternoons in geismar at 4:30pm. it's just bumper to bumper gridlock right now.
adding 2000 more people to the area would not be ideal.
adding 2000 more people to the area would not be ideal.
Posted on 1/9/25 at 12:25 pm to goosenecktrailer
quote:
Louisiana bureaucracy. Project will go to Texas.
the project isn't going anywhere. it's dead in the water. the market doesn't support it. this was supposed to be started in 2020 and finished in 2024. covid messed it up.
This post was edited on 1/9/25 at 12:26 pm
Posted on 1/9/25 at 12:29 pm to monsterballads
quote:
adding 2000 more people to the area would not be ideal.
Origin was supposedly going to build one of their wood chip plants down there, even bought a large tract of land down there, a bit off of Ashland.
Think it fell through. Thank God for the traffic and the folks who already have to navigate that area on a daily basis.
Posted on 1/9/25 at 12:35 pm to ragincajun03
the hyundai steel plant in Donaldsonville will replace it and will be in Ascension
Posted on 1/9/25 at 2:46 pm to nicholastiger
quote:
will be in Ascension
donaldsonville, but yeah
Posted on 1/9/25 at 3:24 pm to monsterballads
quote:
donaldsonville, but yeah
Donaldsonville "is" in Ascension, numbnuts .
Posted on 1/9/25 at 3:28 pm to monsterballads
Plenty of mma around. It’s made at the moment at cornerstone chemical.
Posted on 1/9/25 at 3:39 pm to ragincajun03
Less chemicals in the air for us to breathe.
Time for different industries here anyway like the Hyundai steel factory.
Time for different industries here anyway like the Hyundai steel factory.
Posted on 1/9/25 at 4:51 pm to Vincenzo Pantangelli
This would have turned Geismer into the next South Beach and it would have destroyed the fabric of Geismer society. This is great news for those lucky enough to be in that social stratosphere.
Posted on 1/9/25 at 4:51 pm to ragincajun03
Landrys boys didn’t get their balls polished.
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