Methanex’s Earnings Plunge on Lower Production

Methanex reported third-quarter net income of $23.6 million, a 79% decline over the year-ago period. Sales fell 13%, to $1.6 billion. “Our biggest area of disappointment during the quarter was the continued curtailment of Argentinian natural gas supply to our plants in Chile,” says Bruce Aitken, president and CEO of Methanex. “We are in continuing discussions with our Argentinian suppliers and various governmental authorities to resolve the situation, and continue to be optimistic that we will have some natural gas supply restored from...

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