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Markets :: Basic Chemicals :: Petrochemicals :: Methanol

Methanex Swings to Loss

12:05 PM MDT | October 28, 2009 | Lindsey Bewley

Methanex reported a third-quarter net loss of $800,000 compared with income of $70 million in the same period last year. Sales fell 44%, to $316.9 million. “During the third quarter, methanol demand increased in all regions globally and industry supply was impacted by many planned and unplanned outages. These factors have led to a recent strong recovery in methanol prices which provides upward momentum to our earnings in the fourth quarter,” says president and CEO Bruce Aitken. Meanwhile, Methanex says its 1.3-million m.t./year EMethanex joint venture...

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