Methanex (TSE:MX) has released an update.
Methanex Corporation reports a profitable first quarter in 2024 with net income of $53 million and an increased average methanol price to $343 per tonne. The company successfully repaired its Egypt plant and is on schedule with the Geismar 3 plant’s startup for Q3 2024, despite a $25 million impact from delays. Methanex strengthened its financial position by adding a $200 million tranche to its credit facility and returned $12.5 million to shareholders through dividends.
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