July 30, 2014 3:08 AM ET


Company Overview of NOVA Chemicals Corporation

Company Overview

NOVA Chemicals Corporation produces and sells plastics and chemicals in the United States, Canada, Europe, and other countries. It offers polyethylene and styrenic polymer resins for a range of applications, such as rigid and flexible packaging, containers, plastic bags, plastic pipes, consumer electronics, building and construction materials, housewares, and other industrial and consumer goods; and ethylene to manufacture various polymers and other chemical products. The company also provides chemical co-products, including propylene, benzene, and butadiene, which are used to make items, such as tires, carpet and clothing fibers, and household goods; and energy co-products comprising gasoli...

1000 Seventh Avenue, S.W.

PO Box 2518

Calgary, AB T2P 5C6


Founded in 1954

2,600 Employees



Key Executives for NOVA Chemicals Corporation

Acting Chief Executive Officer
Age: 49
Senior Vice President of Operations
Age: 59
Senior Vice President and President of Olefins & Feedstocks Business
Age: 59
Senior Vice President of Polyethylene Business
Age: 48
Corporate Secretary
Compensation as of Fiscal Year 2014.

NOVA Chemicals Corporation Key Developments

NOVA Chemicals Corporation Announces Executive Changes

NOVA Chemicals Corporation announced that Randy Woelfel has stepped down as CEO and Board Member and that Todd Karran has assumed the role of Acting CEO. The Board of Directors will begin a search for a permanent replacement immediately that will include both internal and external candidates. Karran is currently the company's CFO and has held many leadership positions at the company.

NOVA Chemicals Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Capital Expenditure Guidance for the Year 2014

NOVA Chemicals Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company generated profit of $245 million compared to profit of $185 million for the first quarter of 2013. The quarter-over-quarter increase was primarily due to increased operating profit in the Polyethylene segment, offset somewhat by decreases in operating profit in the Joffre Olefins and Corunna Olefins segments. Revenue was $1,379 million compared to $1,251 million a year ago. Operating profit from the businesses was $380 million compared to $336 million a year ago. Operating profit was $344 million compared to $290 million a year ago. Cash provided by operating activities was $109 million compared to $46 million a year ago. The company reported negative net debt of $34 million at the end of the quarter. The company expects full year 2014 capital expenditures to be approximately $800 million.

NOVA Chemicals Corporation to Report Q1, 2014 Results on May 01, 2014

NOVA Chemicals Corporation announced that they will report Q1, 2014 results on May 01, 2014

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