August 21, 2014 5:35 PM ET

Chemicals

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

Canada

Founded in 1954

Phone:

403-750-3600

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 Provides Dividend Guidance for the Financial Year 2014 and 2015

NOVA Chemicals Corporation expects that it will pay an annual distribution to shareholder in 2015 or the 2014 financial year in an amount at least equal to the $215 million distribution paid for the 2013 financial year.

NOVA Chemicals Corporation Announces Unaudited Consolidated Earnings Result for the Second Quarter and Six Months Ended June 30, 2014

NOVA Chemicals Corporation announced unaudited consolidated earnings result for the second quarter and six months ended June 30, 2014. For the quarter, the company generated a profit of $167 million compared to profit of $201 million for the second quarter of 2013. The quarter-over-quarter decrease was primarily due to lower margins in the Joffre Olefins and Corunna Olefins segments, partially offset by higher margins in the Polyethylene segment. Revenue was $1,290 million against $1,370 million a year ago. Operating profit from the businesses was $275 million against $328 million a year ago. Operating profit was $237 million against $287 million a year ago. Cash provided by operating activities was $257 million against $371 million a year ago. Purchase of property, plant and equipment was $161 million compared to the $133 million for the same quarter year ago. Purchase of intangible assets was $1 million. For the six months ended June 30, 2014, the company generated a profit of $366 million, compared to profit of $386 million for the six months ended June 30, 2013. The year-over-year increase was primarily due to higher margins in the Polyethylene segment and lower finance costs, partially offset by lower margins in the Joffre Olefins and Corunna Olefins segments. Revenue was $2,669 million against $2,621 million a year ago. Operating profit from the businesses was $655 million against $664 million a year ago. Operating profit was $581 million against $577 million a year ago. Cash provided by operating activities was $366 million against $417 million a year ago. Purchase of property, plant and equipment was $232 million compared to the $207 million for the same period year ago. Purchase of intangible assets was $1 million.

NOVA Chemicals Corporation to Report Q2, 2014 Results on Aug 12, 2014

NOVA Chemicals Corporation announced that they will report Q2, 2014 results on Aug 12, 2014

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