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METHANEX CORP. ANNOUNCES ITS RESULTSFOR THE NINE MONTHS ENDED SEPT. 30, 1993

 VANCOUVER, British Columbia, Nov. 25 /PRNewswire/ - Methanex Corp. (NASDAQ-NMS: MEOHF; Toronto, Montreal: MX) recorded earnings of $4.7 million ($0.03 per share) for the nine months ended Sept. 30, 1993, compared to $30.8 million ($0.20 per share) during the same period in 1992. Revenues from all business segments were $389.9 million, an increase of $72.6 million over 1992 revenues of $317.3 million.
 The declining price for gasoline produced at the company's synthetic fuel plant is the most significant cause of lower earnings in the current period. The increase in revenues occurred primarily in the methanol segment and resulted from increased volumes of brokered sales. All of the company's plants operated well during the quarter, each exceeding their rated capacity.
 Methanex generated $49.9 million of cash from operations ($0.29 per share) compared to $66.7 million ($0.42 per share) in 1992. The decrease in cash flow again results principally from lower gasoline prices in 1993.
 Since the March 1993 merger with the Fletcher Challenge methanol and synthetic fuel business, the company has focused on the efficient integration of the two businesses. There has been consolidation of the network of marketing offices in North America, Chile and New Zealand and the company's presence in Europe has been expanded. These changes will allow the company to take maximum advantage of its global scale. The company has also completed its refinancing and completed the merger with the Fletcher Challenge methanol and synthetic fuel businesses.
 Methanol prices were weak for the first six months of 1993, however the methanol market has tightened during the third quarter and prices began to improve late in the quarter. Prices have continued to increase in all world markets in October and November. As the largest producer and marketer of methanol in the world, Methanex is uniquely positioned to benefit from the upturn in prices which are expected to generate improved results in the fourth quarter.
 Methanex is a publicly traded company engaged primarily in the worldwide production and marketing of methanol. Methanex shares are listed for trading on the Toronto and Montreal stock exchanges in Canada under the trading symbol "MX" and on the NASDAQ-NMS in the United States under the trading symbol "MEOHF". Methanex is headquartered at Vancouver, Canada.
 -0- 11/25/93
 /CONTACT: Ron Russell or Bruce Aitken of Methanex, 604-684-7500/
 (MEOHF)


CO: Methanex Corp. ST: British Columbia IN: OIL SU: ERN

SW -- NYON1 -- 7872 11/25/93 19:14 EST
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Publication:PR Newswire
Date:Nov 25, 1993
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