Latest news with #RichSumner
Hamilton Spectator
a day ago
- Business
- Hamilton Spectator
Methanex Corporation Completes Acquisition of OCI Global's Methanol Business
VANCOUVER, British Columbia, June 27, 2025 (GLOBE NEWSWIRE) — Methanex Corporation (TSX:MX) (Nasdaq:MEOH) announced today that it has completed the previously announced acquisition of OCI Global's ('OCI') international methanol business. As part of the transaction, first announced in September 2024, Methanex has acquired an interest in i) two world-scale methanol facilities in Beaumont, Texas, which have access to robust North American natural gas feedstock and one of which also produces ammonia, ii) a low-carbon methanol production and marketing business, and iii) a currently idled methanol facility in the Netherlands. The transaction consideration consists of approximately $1.2 billion of cash, excluding adjustments to working capital and cash acquired, the issuance of approximately 9.9 million common shares of Methanex and the assumption of approximately $450 million in debt and leases. 'We are excited to complete this important strategic acquisition and to welcome a talented team to Methanex,' said Rich Sumner, President and CEO of Methanex. 'I want to thank the individuals that worked diligently to successfully close this acquisition. As we move forward, our focus is on ensuring a smooth integration, maintaining safe and stable operations, and delivering the strategic benefits of this acquisition.' In connection with the transaction, Methanex has filed a base shelf prospectus (the 'Prospectus') with the securities regulatory authority in the Province of British Columbia in accordance with a customary registration rights agreement entered into between Methanex and OCI. The Prospectus will also be filed with the U.S. Securities and Exchange Commission as part of a registration statement on Form F-10 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States. Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol 'MX' and on the Nasdaq Stock Market in the United States under the trading symbol 'MEOH'. Methanex can be visited online at . Inquiries Sarah Herriott Director, Investor Relations Methanex Corporation 604-661-2600 or Toll Free: 1-800-661-8851
Associated Press
a day ago
- Business
- Associated Press
Methanex Corporation Completes Acquisition of OCI Global's Methanol Business
VANCOUVER, British Columbia, June 27, 2025 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (Nasdaq:MEOH) announced today that it has completed the previously announced acquisition of OCI Global's ('OCI') international methanol business. As part of the transaction, first announced in September 2024, Methanex has acquired an interest in i) two world-scale methanol facilities in Beaumont, Texas, which have access to robust North American natural gas feedstock and one of which also produces ammonia, ii) a low-carbon methanol production and marketing business, and iii) a currently idled methanol facility in the Netherlands. The transaction consideration consists of approximately $1.2 billion of cash, excluding adjustments to working capital and cash acquired, the issuance of approximately 9.9 million common shares of Methanex and the assumption of approximately $450 million in debt and leases. 'We are excited to complete this important strategic acquisition and to welcome a talented team to Methanex,' said Rich Sumner, President and CEO of Methanex. 'I want to thank the individuals that worked diligently to successfully close this acquisition. As we move forward, our focus is on ensuring a smooth integration, maintaining safe and stable operations, and delivering the strategic benefits of this acquisition.' In connection with the transaction, Methanex has filed a base shelf prospectus (the 'Prospectus') with the securities regulatory authority in the Province of British Columbia in accordance with a customary registration rights agreement entered into between Methanex and OCI. The Prospectus will also be filed with the U.S. Securities and Exchange Commission as part of a registration statement on Form F-10 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States. Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol 'MX' and on the Nasdaq Stock Market in the United States under the trading symbol 'MEOH'. Methanex can be visited online at Inquiries Sarah Herriott Director, Investor Relations Methanex Corporation 604-661-2600 or Toll Free: 1-800-661-8851
Globe and Mail
5 days ago
- Business
- Globe and Mail
Public market insider buying at Methanex (MX)
Rich Sumner, CEO and Director, acquired 2,958 Common Shares on a direct ownership basis at prices ranging from $50.647 to $50.700 on June 20th, 2025. This represents a $149,893 investment into the company's shares and an account share holdings change of 6.4%. Let the insiders guide you to opportunity at
Fibre2Fashion
16-06-2025
- Business
- Fibre2Fashion
Methanex set to close OCI Global methanol deal on June 27
Methanex Corporation (TSX:MX) (Nasdaq:MEOH) announced that the regulatory review period under the U.S. Hart-Scott-Rodino Antitrust Act has lapsed. Accordingly, all regulatory approvals required for Methanex to close its previously announced acquisition of OCI Global's international methanol business have been obtained. The transaction is expected to close on June 27, 2025, and remains subject to the satisfaction of customary closing conditions. Methanex has obtained all necessary regulatory approvals, including under the US Hart-Scott-Rodino Act, to proceed with its acquisition of OCI Global's international methanol business. The transaction is expected to close on June 27, 2025, subject to customary closing conditions. Methanex plans rapid integration to unlock strategic value and welcomes new team members to the company. "We are pleased to have received regulatory clearance and look forward to closing the transaction and welcoming new team members to Methanex." said Rich Sumner, President and CEO of Methanex. "Given our extensive integration planning, we expect to move quickly upon closing to deliver the strategic benefits of this acquisition." Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol 'MX' and on the Nasdaq Stock Market in the United States under the trading symbol 'MEOH'. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
Yahoo
12-06-2025
- Business
- Yahoo
Methanex Corporation Receives Regulatory Approval for the Acquisition of OCI Global's Methanol Business
VANCOUVER, British Columbia, June 12, 2025 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (Nasdaq:MEOH) announced today that the regulatory review period under the U.S. Hart-Scott-Rodino Antitrust Act has lapsed. Accordingly, all regulatory approvals required for Methanex to close its previously announced acquisition of OCI Global's international methanol business have been obtained. The transaction is expected to close on June 27, 2025, and remains subject to the satisfaction of customary closing conditions. "We are pleased to have received regulatory clearance and look forward to closing the transaction and welcoming new team members to Methanex." said Rich Sumner, President and CEO of Methanex. "Given our extensive integration planning, we expect to move quickly upon closing to deliver the strategic benefits of this acquisition." Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol 'MX' and on the Nasdaq Stock Market in the United States under the trading symbol 'MEOH'. Methanex can be visited online at InquiriesSarah HerriottDirector, Investor RelationsMethanex Corporation 604-661-2600 or Toll Free: Forward Looking Statements This First Quarter 2025 Management's Discussion and Analysis ("MD&A") as well as comments made during the First Quarter 2025 investor conference call contain forward-looking statements with respect to us and our industry. These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. Statements that include the word "expects," or other comparable terminology and similar statements of a future or forward-looking nature identify forward-looking statements. More particularly and without limitation, any statements regarding the following are forward-looking statements: anticipated closing date of the OCI acquisition and the expected benefits of the OCI acquisition, including benefits related to expected synergies and commodity diversification, anticipated synergies and Methanex's ability to achieve such synergies following closing of the OCI acquisition, and expected increase in methanol production of assets to be acquired as part of the OCI acquisition. We believe that we have a reasonable basis for making such forward-looking statements. The forward-looking statements in this document are based on our experience, our perception of trends, current conditions and expected future developments as well as other factors. Certain material factors or assumptions were applied in drawing the conclusions or making the forecasts or projections that are included in these forward-looking statements, including, without limitation, future expectations and assumptions concerning the following: future expectations and assumptions concerning the receipt of all regulatory approvals required to complete the OCI acquisition, and Methanex's ability to realize the expected strategic, financial and other benefits of the OCI acquisition in the timeframe anticipated or at all. However, forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The risks and uncertainties primarily include those attendant with producing and marketing methanol and successfully carrying out major capital expenditure projects in various jurisdictions, including, without limitation: failure to complete the OCI acquisition in accordance with the material terms of the OCI acquisition agreement or at all, failure to close the OCI acquisition credit facility, unforeseen difficulties in integrating the business operations or assets purchased pursuant to the OCI acquisition into our business and operations, failure to realize the expected strategic, financial and other benefits of the OCI acquisition in the timeframe anticipated or at all, and unexpected costs or liabilities associated with the OCI acquisition. Having in mind these and other factors, investors and other readers are cautioned not to place undue reliance on forward-looking statements. They are not a substitute for the exercise of one's own due diligence and judgment. The outcomes implied by forward-looking statements may not occur and we do not undertake to update forward-looking statements except as required by applicable securities in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
