Methanex's New Zealand Methanol Plant Resumes Production

Methanex Corporation announced that is has re-started its 530,000 tonne per year Waitara Valley methanol plant located in New Zealand. This plant is operated by Methanex as a flexible asset. The operation of this plant is dependant upon methanol industry supply/demand dynamics and the availability of natural gas on commercially acceptable terms. John Floren, Methanex's Senior Vice President, Global Marketing and Logistics, said, "The decision to re-start Waitara Valley is driven by our view of methanol industry balances. As a result of continuing strong demand as well as planned and unplanned supply outages, inventories of methanol are at extremely low levels. We believe that, in this environment, the methanol industry will experience tight market conditions over the next year. Operating our New Zealand plant will help to address some of the additional customer demand that we are experiencing today and offset some of the shortages that are evident in the market." Methanex is a Vancouver based, publicly-traded company engaged in the worldwide production and marketing of methanol. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the NASDAQ Global Select Market in the United States under the trading symbol "MEOH".

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