October 28, 2009 / 3:55 AM / 8 years ago

UPDATE 1-Canada's Methanex posts Q3 loss

* Q3 shr loss $0.01

* Sees “upward momentum” in fourth quarter

(Adds more details, figures in U.S. dollars)

Oct 28 (Reuters) - Methanex Corp (MX.TO), the world’s largest producer of methanol, on Tuesday reported a third-quarter loss, hurt in part by unplanned outages at its Chile and Trinidad plants.

The company posted a net loss of $0.8 million, or 1 cent per share, in the quarter ended Sept 30. That compared with a net profit of $70 million, or 74 cents per share, in the same quarter a year ago.

Two analysts were expecting a loss of 4 cents per share according to Thomson Reuters I/B/E/S.

Methanex said unplanned outages in the quarter in Chile resulted in lost production of about 65,000 tonnes.

Methanex Chief Executive Bruce Aitken said increased global methanol demand should provide “upward momentum” to the company’s fourth-quarter earnings.

Earnings will also be helped by a new project in Egypt next year and increased production in Chile, Aitken said.

Reporting by Ajay Kamalakaran in Bangalore; Editing by Valerie Lee

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