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METHANEX CORP. ANNOUNCES ITS RESULTSFOR THE SIX MONTHS ENDED JUNE 30, 1993

 VANCOUVER, British Columbia, Aug. 16 /PRNewswire/ - Methanex Corp. (NASDAQ-NMS: MEOHF; Toronto, Montreal: MX) (the "company") recorded earnings of $3.4 million ($0.02 per share) for the six months ended June 30, 1993, compared to $21.8 million ($0.14 per share) during the same period in 1992. Revenues from all business segments were $228.4 million, an increase of some $31.8 million over 1992 revenues of $196.6 million.
 The increase in revenues occurred primarily in the methanol segment and resulted form increased volumes of brokered sales. Methanol prices however were on average approximately 3 percent lower in 1993 compared to 1992. In May 1993, the Cape Horn plant in Chile was down for three weeks for a scheduled turnaround. With this exception all of the company's plants operated during the quarter in excess of their rated capacity.
 Methanex generated $27.5 million in funds from operations ($0.16 per share) compared to $40.4 million ($0.26 per share) in 1992. The decrease in cash fow principally results from lower methanol prices in 1993 and a slightly reduced volume of company produced methanol sales.
 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. Organizational changes are occurring in all locations in which the company operates. These changes are intended to permit the company to take maximum advantage of its global scale.
 While methanol selling prices have been depressed for much of the last six months, prices have recently begun to strengthen. Demand, particularly in the United States and Asia, has been steady and supply in all major markets is beginning to consolidate. The weakening Deutsche mark has reduced returns in the European market. With the MTBE winter season approaching and the firming of natural gas prices in the United States, the prospect remains that methanol prices will continue to improve.
 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 will continue to be headquartered at Vancouver.
 -0- 8/16/93
 /CONTACT: Ron Russell, or Bruce Aitken of Methanex,604-684-7500/
 (MEOHF MX.)


CO: Methanex Corporation ST: British Columbia IN: OIL SU: ERN

LM-BP -- LA035 -- 3316 08/16/93 18:28 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
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