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 ?xml:namespace>
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.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections