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Markets :: Basic Chemicals :: Petrochemicals :: Methanol

Methanex Swings to a Profit

6:41 AM MST | January 28, 2010 | Kerri Walsh

 Methanex reported fourth-quarter net income of $25.7 million (28 cts/share), compared to a $3.9-million loss. Adjusted Ebitda was $73 million, compared to a $13.3-million loss.  "Continued upward momentum of methanol demand and higher energy prices have led to higher methanol prices and improved earnings," says president and CEO Bruce Aitken. "In the fourth quarter, we realized an average price of $282/m.t., which is about $60/m.t. higher than last quarter," Aitken says. Methanol prices have continued to firm in the first quarter...

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