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Methanex Posts Gains on Healthy Demand and Increased Production

9:00 AM MDT | July 28, 2011 | Lindsey Bewley

Methanex announced second-quarter net income up 17%, to $40.5 million (43 cts/share). Adjusted Ebitda was $103.7 million, up 33% from the year-ago quarter. Total sales volumes were up 0.5%, to 1.86 million m.t., while overall methanol production rose 31%, to 1.05 million m.t. Sales volumes in 2011 have been primarily to prepare for increased supply from the company’s Egypt and Medicine Hat, AB methanol facilities, Methanex says.   “The Egypt and Medicine Hat plants have run very well since their start-up with the second quarter being our highest...

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