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Exhibition Status Update!

With 3 weeks until SHOWTIME, the 20th Anniversary edition welcomes an All-Star cast of new and returning exhibitors, making up the largest DOMOTEX asia/CHINAFLOOR to date. Due to high demand in all product...

Global designers to exhibit at Luxury Br…

Designers from Europe, Middle East and North America will exhibit at the upcoming Luxury Brands Carpet Show. The second edition of the curated Luxury Brands exhibition and designer carpet collection is scheduled to...

H&M to dress Swedish teams for Olymp…

Hennes and Mauritz Group (H&M) will dress the Swedish teams for the Winter Olympics and Paralympics in PyeongChang 2018. The company will create outfits for the opening and closing ceremonies. The collection will...

Saurer to show Allma TechnoCorder TC2 at…

Saurer Technologies GmbH & Co. KG Twisting Solutions, a leading provider of energy efficient solutions for tire cord, carpet, staple, glass filament, and industrial yarns, will present its Allma TechnoCorder TC2 innovative machine...

Cone Denim and Unifi launch S Gene with …

Cone Denim and Unifi have launched the latest in advanced stretch technology - S Gene with Repreve . Combining the advanced stretch technology of S Gene with the superior sustainability and performance of...

Shima Seiki to partake in Premiere Visio…

Leading computerised knitting machine developer, Shima Seiki Mfg., Ltd., is set to participate at the Premiere Vision show, a global event for fashion professionals, to be held in Paris, from February 13 to 15, 2018...

Measurably more productive and econom- i…

Even if the winding machine is only responsible for about 10-15% of the energy consumption (compressed air and electrical energy) when considering the classic ring spinning process, these criteria play an important role...

Wool to dominate at Intertextile Shangha…

Some 3,300 exhibitors from around 20 countries covering all apparel fabrics and accessories product groups are expected at the Spring Edition of the industry’s most comprehensive sourcing platform for the spring/summer season, Intertextile...

Methanex posts better EBITDA in Q2

Methanex posts better EBITDA in Q2

(Canada)

For the second quarter of 2013, Methanex Corporation reported Adjusted EBITDA of $157 million and Adjusted net income of $99 million ($1.02 per share on a diluted basis.

This compares with Adjusted EBITDA of $149 million and Adjusted net incomeof $88 million ($0.92 per share on a diluted basis for the first quarter of 2013.

John Floren, President and CEO of Methanex commented, "The higher methanol pricing environment in the second quarter contributed to stronger EBITDA and earnings. Entering the third quarter, we continue to move forward on a number of growth projects. These projects are expected to expand our annual operating capacity by approximately three million tonnes over the next three years, representing a 60% capacity increase."

Mr. Floren added, "We are making solid progress on our initiatives in both New Zealand and Medicine Hat, which will add up to one million tonnes of annual production capacity by the end of 2013. Our project to relocate the first one million tonne plant from Chile to Geismar, Louisiana is on track to be completed by the end of 2014 with the second one million tonne plant in Geismar expected to be operational in early 2016."

Mr. Floren concluded, "This is an exciting time for our business as these growth projects offer significant upside to our earnings and cash flows. With over US$700 million of cash on hand, an undrawn credit facility, a robust balance sheet and strong cash flow generation, we are well positioned to grow our business and deliver on our commitment to return excess cash to shareholders."

Methanex is a Vancouver-based, publicly traded company and is the world's largest supplier of methanol to major international markets.


Methanex

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Interview Mr. Ahmad Sadeghian

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Kohan Textile Journal

Middle East Textile Journal

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