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2014 News Releases
December 19, 2002

Methanex Comments on Status of New Zealand Gas Contract Re-Determination Process
VANCOUVER, BRITISH COLUMBIA--The Maui natural gas field is currently the primary gas supply source for Methanex's New Zealand plants. A contractual process initiated in December 2001 to re-determine the economically recoverable natural gas reserves of the Maui field remains underway. The independent expert, who was appointed by the parties to the Maui gas contract, has released a...

December 19, 2002

Methanex and BP Complete Atlas Financing
VANCOUVER, BRITISH COLUMBIA--Methanex Corporation announced today that non-recourse project financing has been completed for the Atlas methanol project in Trinidad, a joint venture with BP in which Methanex has a 63.1% interest. The project financing will total US$237 million representing approximately 60% leverage for the project. At November 30, 2002, Methanex's total cash con...

December 16, 2002

Methanex and Lyondell Reach Agreement on Long-Term Methanol Supply
VANCOUVER, BRITISH COLUMBIA--Methanex Corporation has entered into an exclusive agreement with Lyondell Chemical Company to supply Lyondell's methanol feedstock requirements in North America and Europe. The agreement will commence in January 2003, and will be phased in over time. In addition, Methanex will acquire, for US$10 million, Lyondell's methanol customer contracts in Nor...

November 25, 2002

Methanex Announces Write-Off of Fortier Methanol Facility
VANCOUVER, BRITISH COLUMBIA--Methanex Corporation announced today that it is taking a non-cash after-tax charge of US$86 million in the fourth quarter of 2002. The non-cash charge relates to a US$113 million write-off of Methanex's 570,000 tonne per year Fortier, Louisiana methanol facility partially offset by a US$27 million reduction in the accrual for site restoration and dem...

November 22, 2002

Methanex Corporation: Notice of Cash Dividend
VANCOUVER, BRITISH COLUMBIA--Methanex Corporation announced today that its Board of Directors has declared a quarterly dividend of US$0.05 per share that will be payable on December 31, 2002 to holders of common shares of record on December 17, 2002. Methanex is the world's largest producer and marketer of methanol. Methanex shares are listed for trading on the Toronto Stock E...

November 12, 2002

Methanex Chief Financial Officer to Retire; Replacement Appointed
VANCOUVER, BRITISH COLUMBIA--Pierre Choquette, President and Chief Executive Officer of Methanex Corporation announced today that Allan S. Cole, Senior Vice President, Finance and Chief Financial Officer has decided to retire effective March 31, 2003. In conjunction with Mr. Cole's pending retirement, Ian Cameron is appointed to the position of Senior Vice President, Finance a...

November 12, 2002

Methanex To Proceed With Low Cost Chile Expansion
VANCOUVER, BRITISH COLUMBIA--Methanex Corporation announced today that it will proceed with the construction of an 840,000 tonne per year expansion at its methanol production hub in Punta Arenas, Chile. The expansion, which has a 20 year natural gas supply contract, is expected to cost approximately US$275 million, including capitalized interest of approximately US$25 million and...

October 21, 2002

Methanex Delivers Significant Improvement In Income And Cash Generation
VANCOUVER, BRITISH COLUMBIA--Methanex Corporation recorded net income of US$58.5 million (US$0.47 per share) and generated EBITDA (earnings before interest, income taxes, depreciation and amortization) of US$108.0 million for the third quarter ended September 30, 2002. The third quarter 2002 results compare to net income of US$15.7 million (US$0.12 per share) and EBITDA of US$52....

July 19, 2002

Methanex Announces New Dividend
VANCOUVER, BRITISH COLUMBIA--Methanex Corporation announced today that its Board of Directors has approved the commencement of a quarterly dividend to shareholders. The first quarterly dividend of US$0.05 per share will be payable on September 30, 2002 to holders of common shares of record on September 16, 2002. Pierre Choquette, President and CEO of Methanex, commented, @We ...

July 17, 2002

Methanex Reports Improved Q2 Results on Methanol Price Strength
VANCOUVER, BRITISH COLUMBIA--Methanex Corporation recorded net income of US$15.7 million (US$0.12 per share) and generated EBITDA (earnings before interest, income taxes, depreciation and amortization) of US$52.0 million for the second quarter ended June 30, 2002. The second quarter 2002 results compare to a net loss of US$17.4 million (US$0.13 per share) and EBITDA of US$10.6 mi...

June 14, 2002

Methanex Announces Successful Completion of Consent Solicitation
VANCOUVER, BRITISH COLUMBIA--Methanex announced today the successful completion of its previously announced solicitation of consents to an amendment to the Indenture relating to its 7.75% Notes due August 15, 2005 (the @Notes@). As a result of the consent solicitation the Indenture will be amended to modify the limitation on restricted payments covenant, as applicable to the N...

June 13, 2002

Methanex Announces Sale of US$200 Million of 10 Year Notes
VANCOUVER, BRITISH COLUMBIA--Methanex Corporation announced today that it has entered into an underwriting agreement with Goldman, Sachs @ Co., CIBC World Markets and RBC Capital Markets for the issue and sale of 8.75% senior notes due August 15, 2012 in an aggregate principal amount of US$200,000,000. This transaction is expected to close on June 19, 2002. Net proceeds will b...

June 12, 2002

Methanex Amends and Extends Consent Solicitation
VANCOUVER, BRITISH COLUMBIA--Methanex announced today that it has amended the terms of its previously disclosed solicitation of consents to an amendment to the Indenture relating to its 7.75% Notes due August 15, 2005 (the @Notes@), and has extended the expiration date for the solicitation from 5:00 p.m., New York City time, on June 12, 2002 to 5:00 p.m., New York City time, on Jun...

June 04, 2002

Methanex Collaborates On DaimlerChrysler's NECAR 5 Drive Across America
VANCOUVER, BRITISH COLUMBIA--DaimlerChrysler today announced the arrival of the methanol fuel cell vehicle, NECAR 5, in Washington, D.C., successfully concluding the first trans-continental trip of a fuel cell vehicle. The NECAR 5 uses on-board reforming of methanol as the source of hydrogen for the fuel cell vehicle. As the fuel provider for the NECAR 5, Methanex played a key rol...

May 31, 2002

Methanex Announces U.S. Debt Issue
VANCOUVER, BRITISH COLUMBIA--Methanex announced today that it has filed with the British Columbia Securities Commission a preliminary short form prospectus providing for the issuance of senior notes due 2012 in an aggregate principal amount of US$200,000,000. The prospectus is also being filed with the U.S. Securities and Exchange Commission in accordance with the Multijurisdic...

May 31, 2002

Methanex Announces Consent Solicitation
VANCOUVER, BRITISH COLUMBIA--Methanex announced today that it has commenced a solicitation of consents to an amendment to the Indenture relating to its 7.75% notes due 2005 (the @Notes@). The consent solicitation will expire at 5:00 PM (New York time) on June 12, 2002. The amendment to the Indenture will permit the Company to add to the Indenture a change of control covenant a...

May 14, 2002

Methanex to Webcast Annual General Meeting May 23, 2002
VANCOUVER, BRITISH COLUMBIA--Methanex Corporation will webcast its upcoming Annual General Meeting as well as remarks by President and CEO, Pierre Choquette. The meeting will be held in Vancouver, British Columbia on Thursday, May 23, 2002 at 10:30 a.m. (PDT). Mr. Choquette's remarks will include a review of Methanex's results and performance over the past year, a discussion of th...

April 25, 2002

Methanex Corporation: California Opens Methanol Fuelling Station For Fuel Cell Vehicles
SACRAMENTO, CALIFORNIA--Methanex Corporation joined other members of the California Fuel Cell Partnership at the grand opening of California's first methanol fuelling station designed for methanol-powered fuel cell vehicles. The new station will service vehicles such as DaimlerChrysler's methanol-powered NECAR 5. Pierre Choquette, President and CEO of Methanex, commented, @This ...

April 22, 2002

Methanex Reports Q1 Results and Improved Outlook
VANCOUVER, BRITISH COLUMBIA--Methanex Corporation incurred a net loss of US$17.4 million (US$0.13 per share) and generated EBITDA (earnings before interest, income taxes, depreciation and amortization) of US$10.6 million for the first quarter ended March 31, 2002. The first quarter 2002 results compare to a net loss of US$13.0 million (US$0.10 per share) and EBITDA of US$8.6 millio...

January 28, 2002

Methanex Announces Q4 2001 Results
VANCOUVER, BRITISH COLUMBIA--Methanex incurred a net loss of US$13.0 million (US$0.10 per share) and generated EBITDA (earnings before interest, income taxes, depreciation and amortization) of US$8.6 million for the fourth quarter ended December 31, 2001. The fourth quarter 2001 results compare to a loss of US$13.7 million (US$0.08 per share) and EBITDA of US$20.0 million for the ...