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Strong Methanol Demand Drives Methanex's Earnings

7:55 AM MDT | October 27, 2011 | Lindsey Bewley

Methanex reported third-quarter net income of $134.8 million, up 141% from the year-ago quarter, on sales up 39%, to $669 million. Results were driven by stronger demand for methanol and higher product pricing, Methanex says.   "Our new Egypt and Medicine Hat plants operated very well, making a significant contribution to our earnings,” says Bruce Aitken, president and CEO of Methanex. “Entering the fourth quarter, methanol demand continues to be healthy and the longer term outlook is excellent, as there is little new capacity being added to...

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