FOR IMMEDIATE RELEASE CONTACT:
Borden Chemicals and Plastics to Close Methanol Plant
Columbus, Ohio (November 9, 2000) - Borden Chemicals and Plastics Limited Partnership (NYSE: BCU)
today announced that it will close its methanol operations in Geismar, Louisiana, effective in early January 2001.
This will complete the process of exiting all of the Partnership's non-vinyl based basic chemical businesses,
following the sale of its formaldehyde assets and the closure of the nitrogen product facilities in July 2000.
The process for the Partnership to exit these businesses and focus on its polyvinyl chloride resin operations was
announced in June 2000. In July 2000, the Partnership completed the sale of its formaldehyde assets and certain
other assets to Borden Chemical, Inc. (BCI), a separate entity which is a subsidiary of Borden, Inc., for $48.5
million. As part of the agreement, BCI obtained an option to acquire the methanol assets by year-end. BCI has
informed the Partnership that it has elected not to exercise its option to acquire the assets.
The Partnership expects it will continue to operate the methanol facility until early January 2001 to meet customer
and operating requirements and will shut down the facility at that time. The Partnership said it expected to absorb
most of the employees involved with its methanol operations into its ongoing PVC operations.
Borden Chemicals and Plastics Limited Partnership produces polyvinyl chloride resins and intermediate raw
materials at facilities located in Geismar and Addis, La., and Illiopolis, Ill. BCP Management, Inc., a wholly
owned subsidiary of Borden, Inc., has a 2 percent interest and serves as general partner. Publicly traded units
account for the remaining 98 percent ownership.
This news release contains forward-looking statements subject to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These include statements with words