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The Secretary for Commerce, Industry and Technology, Mr Joseph WP Wong, today officially opened Methanex Corporation's Hong Kong office.
Methanex, the world's largest producer and marketer of methanol, has been active in Asia-Pacific for the past 20 years. Until late last year, Methanex's Asia Pacific marketing and logistics operation was headquartered in Auckland, New Zealand. The move to Hong Kong reflects Asia's position as the fastest-growing methanol market in the world.
Methanex President and CEO, Mr Bruce Aitken said, "We are very proud of the strong relationships that we have developed with customers in this region over the past two decades. We recognise how important this market is to our future. Our new office in Hong Kong is part of our commitment to customers to be a reliable, high-quality, long-term supplier."
Mr Mike Herz, Director, Marketing and Logistics, Asia Pacific, says, "Hong Kong provides a well-developed business infrastructure, access to talented professionals, a great place to live and a convenient location from which to deepen our customer relationships and grow our business in Asia. In addition to the regional head office in Hong Kong, we have other Asian marketing offices in Seoul, Tokyo and Shanghai."
Nine senior Methanex executives flew to Hong Kong for the opening, along with customers from throughout Asia. Following an open house at the new offices, guests travelled to the Conrad Hotel in Central District for a banquet that was opened with Mr Aitken and Mr Wong dotting two lion's eyes for good fortune.
Officiating at the opening ceremony, Mr Wong said, "I am delighted to welcome Methanex Asia Pacific Limited to Hong Kong. It is a great privilege for our city to have become the home for the regional marketing operations of the global leader in producing, marketing and supplying methanol."
He also said that the company's decision reinforced Hong Kong's position as the preferred location for international businesses to manage their regional operations and as the gateway to expand into other markets in Asia-Pacific.
Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Mark Michelson, also joined Mr Wong and other guests at the officiating ceremony. Invest Hong Kong has provided assistance to the company to help it set up in Hong Kong.
Methanex Corporation has production plants in Chile, Trinidad and Tobago and New Zealand with terminalling and marketing offices worldwide.
Methanol is a liquid petrochemical and a basic building block used by large petrochemical companies to produce formaldehyde, acetic acid, MTBE (methyl tertiary butyl ether) and a variety of other chemical intermediates. Methanol is used in the production of hundreds of everyday products, from windshield washer fluid and plastic bottles to paints and aspirin.
Methanex is a Vancouver-based, publicly-traded company. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the Nasdaq National Market in the United States under the trading symbol "MEOH".
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing the support needed to establish a business presence here. For more information, please visit the website at www.investhk.gov.hk.
Ends/Monday, February 20, 2006
Issued at HKT 18:31
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