Methanex to close Taranaki plant after 40 years

Methanex (MEOH) plans to repay $300M of its 5.125% senior notes due in 2027, citing strong cash flow and favorable methanol market conditions. The company generated $439M in operating cash flow in Q2, with $383M in cash and $400M in unused credit facilities as of June 30. The repayment will reduce interest obligations but may impact liquidity.

Methanex (MX) stock rose 2.5% to CA$85.39, defying broader market declines, following a US$300 million debt redemption. CEO Rich Sumner cited strong methanol market conditions. UBS maintained a Buy rating, and Q2 2026 results showed record production and robust EBITDA. A dividend of US$0.185 per share is due September 30.

M&G Investment Management Limited reported a 15.30% stake in Methanex (MEOH), owning 11,834,166 shares. The firm acquired the shares believing they were undervalued and plans to engage with management on strategy, potentially increasing its stake or seeking changes to boost shareholder value.

Methanex, a Canadian company and New Zealand's largest gas user, will close its plant and sell its gas contracts due to insufficient supply. The move will impact around 200 employees and the local economy, but the plant may be reactivated if future gas supplies become available. Genesis Energy has secured additional gas supplies, and political parties debate the government's energy policies.

Methanex will close its New Zealand plant in 2027, citing unsustainability. The company sold its gas entitlements to Genesis Energy. This decision impacts Methanex's operations and local energy markets.

Methanex (TSX: MX, Nasdaq: MEOH) announced that Natgasoline LLC, a joint venture, priced $290.95M tax-exempt bonds with a 4.75% coupon rate. Proceeds will refinance existing 2018 bonds, extending maturity to 2046. The CFO stated this refinancing strengthens the venture's financial flexibility.