Key Developments: Methanex Corp (MEOH.O)
43.94USD
24 May 2013
$-0.98 (-2.18%)
$44.92
$44.54
$44.69
$43.62
276,132
537,771
$46.00
$25.56
Latest Key Developments (Source: Significant Developments)
Methanex Corp To Proceed With Second Relocation Of Plant From Chile To Louisiana
Methanex Corp announced that it has reached a final investment decision to proceed with the relocation of a second one million tonne per year methanol plant from its Chile site to Geismar, Louisiana. The plant is expected to be operational by early 2016, and has an estimated total cost of approximately USD 550 million. Full Article
Methanex Corp Increases Dividend
Methanex Corp announced that Board of Directors has approved an 8% increase to quarterly dividend to shareholders, from $0.185 to $0.20 per share. The increased dividend will apply commencing with the dividend payable on June 30, 2013 to holders of common shares on record on June 16, 2013. Full Article
Methanex Corp To Increase Operating Capacity At New Zealand Operations
Methanex Corp announced plans to increase operating capacity at its New Zealand operations by 700,000 tonnes to 2.2 million tonnes by the end of 2013. Methanex has secured a new natural gas supply agreement, which will enable the restart of the methanol plant at its Waitara Valley site by late in the third quarter, adding 500,000 tonnes of production per year. In addition, Methanex will add capacity at the Motunui site by increasing distillation to add another 200,000 tonnes annually. The current estimated capital cost of these two projects is approximately USD65 million. Full Article
Methanex Corp Declares Dividend
Methanex Corp announced that its Board of Directors has declared a quarterly dividend of USD0.185 per share that will be payable on March 31, 2013 to holders of common shares of record on March 17, 2013. Full Article
Methanex Corp Plans Temporary Shutdown Of Operations In Chile
Methanex Corp (Methanex) announced that it expects to idle its Chile operation in March 2013 due to anticipated insufficient natural gas supply. Methanex is currently operating one plant in Chile at low operating rates. In 2013, planned output from this plant represents less than 5% of Methanex’s total production. Methanex explained that due to continued natural gas supply challenges the Company do not expect to have sufficient feedstock to keep its Chile plant operating through the southern hemisphere winter. The Company's current expectation is that resumption of its plant operation would be possible later in the year. Full Article
Methanex Corp Announces Sale of USD350 Million Of Seven Year Notes
Methanex Corp announced that it has priced an offering of senior unsecured notes. Methanex will issue USD350 million in aggregate principal amount of 3.25% senior notes due December 15, 2019. The notes were issued at a price of 99.098% of the aggregate principal amount, with an effective yield to maturity of 3.396%. The offering is expected to close on or about December 17, 2012, subject to customary closing conditions. Methanex expects to use the net proceeds from the offering primarily for capital expenditures, and for any one or more of debt repayments, working capital or other general corporate purposes. J.P. Morgan Securities LLC, RBC Capital Markets, LLC, BNP Paribas Securities Corp. and RBS Securities Inc. acted as joint book-running managers of the offering, with HSBC Securities (USA) Inc. and National Australia Bank Limited acting as co-managers Full Article
Methanex Corp Declares Cash Dividend
Methanex Corp announced that its Board of Directors has declared a quarterly dividend of $0.185 per share that will be payable on December 31, 2012 to holders of common shares of record on December 17, 2012. Full Article
Methanex Corporation Receives Air Permits For Louisiana Project
Methanex Corporation announced that it has been granted the required air permits by the State of Louisiana and the EPA to construct and operate its one million tonne methanol project in Geismar, Louisiana. Full Article
Methanex Corp Secures Further Long-Term Gas Supplies In New Zealand
Methanex Corp announced that it has secured further gas supplies in New Zealand. The new gas quantities equate to about 2.5 million tonnes of methanol production over the next five years. Full Article
Methanex Corp Announces New President And CEO Effective January 1, 2013
Methanex Corp announced that the Board of Directors has appointed John Floren, currently Senior Vice President, Global Marketing & Logistics, to President and Chief Executive Officer (CEO), effective January 1, 2013. Bruce Aitken is retiring from the Company, but will remain a member of the Board of Directors. Full Article
Methanex Corp to move Chile plant to Louisiana
April 25 - Methanex Corp, a Canadian producer of methanol, said late on Wednesday that it was moving a second plant from Chile to Geismar, Louisiana.
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
