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Gold/Mining/Energy : Methanex (MEOHF)
MEOH 40.19+0.1%Dec 26 9:30 AM EST
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To: RBMac who wrote (194)11/19/1999 5:32:00 PM
From: chicoman  Read Replies (1) of 213
 
Attention Business Editors:FOOD FOR THOUGHT??%!!CHEAP@3.60 cnd.

Methanex completes restructuring of Fortier plant

VANCOUVER, Nov. 19 /CNW/ - Methanex Corporation has concluded a
transaction, subject to regulatory approval, to increase its ownership in the
methanol plant in Fortier, Louisiana to 100% from 70% and to enhance the
future operating flexibility of the facility.
Pierre Choquette, President and CEO of Methanex, commented, ''One of our
priorities in 1999 was to restructure our higher cost North American assets
and this transaction is a significant achievement in this regard. This
transaction will give us complete control over the future operations of the
Fortier plant and its cost structure.''
Methanex will incur a one-time pre-tax charge of approximately US$14
million in the fourth quarter of 1999 relating to the restructuring of the
Fortier asset.

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 and Montreal stock exchanges in Canada under the
trading symbol ''MX'' and on The NASDAQ Stock Market in the United States
under the trading symbol ''MEOH.'' (NASDAQ: MEOH)

Information in this news release may contain forward-looking statements.
By their nature, such forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially from those
contemplated by the forward-looking statements. They include regulatory
clearance of this transaction.
%SEDAR: 00001896E
-0- 11/19/1999
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