Canexus completes conversion to corporation status

08 July 2011 19:51  [Source: ICIS news]

TORONTO (ICIS)--Canexus has completed its conversion from income fund to corporation status, the Canadian chlor-alkali and sodium chlorate producer said on Friday.

Canexus said the move will not involve any changes to the way it runs its chemical businesses.

The company expects to starting trading its shares on the Toronto stock exchange under the ticker symbol “CUS” on 13 July, it added.

Canadian income funds have become less attractive following changes in tax laws that were first announced in 2006 and brought into effect this year.

However, another Canadian chemicals firm, Chemtrade Logistics, has said it will continue to operate as an income fund as it believes the tax impact on its business will only be small.

By: Stefan Baumgarten
+1 713 525 2653

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