NOVA CHEMICALS CORPORATION
Previous company name
Name change date
NOVA Chemicals Corporation (NOVA Chemicals) is a Canadian-based company that, together with its subsidiaries, is engaged in the manufacture and distribution of plastics and chemicals. The company, with headquarters located in Calgary, Alberta in Canada and Pittsburgh, Pennsylvania, was founded in 1954 as Nova Corporation.
NOVA Chemicals, a leading chemical company, operates in three business units: Olefins/Polyolefins, Performance Styrenics, and Styrenix. The Olefins/Polyolefins unit produces and markets ethylene, polyethylene, and polyethylene performance products, as well as chemical and energy products. The Performance Styrenics unit produces and markets expandable polystyrene and styrenic polymer performance products. The Styrenics unit produces and markets styrene monomer and solid polystyrene. The company’s products are used in various applications, including rigid and flexible packaging, food packaging, containers, plastic bags, plastic pipe, consumer electronics, building and construction materials, automotive components, house wares, and various industrial and consumer goods. NOVA Chemicals has manufacturing facilities located in the United States, Canada, the United Kingdom, the Netherlands and France. It markets its products through its sales force, as well as through distributors, agents, and traders in Canada, the United States, Europe, and internationally.
The Company involved in pipelining and the manufacturing and marketing of materials processed from hydrocarbons.
Description and history
The Company is an international company. It is principally involved in pipelining and the manufacturing and marketing of materials processed from hydrocarbons. It is one of the world’ s lowest-cost producers of ethylene and polyethylene. The focus is on its international business as an investor and operator in the natural gas service industry and the investment in pipelines privatized by governments. The Company carries out pipeline consulting worldwide. The Company owns 24% of Methanex, 39.1% of Natural Gas Clearinghouse, 100% of Pan Alberta and 50% of Foothills Pipe Lines.**BD 94: A net income of $575 million was mainly due to chemical price recovery. Other contributing factors are asset sales (Novalta Resources Inc), growth in business and improved productivity. The Company issued $525 million new equity and acquired 24% ownership in Methanex. With higher margins on its products, Nova completed several low-capital-cost capacity expansions. The Company merged with TransCanada on July 2, 1998. The Company was incorporated on January 1, 1999, and was listed on the Toronto Stock Exchange on July 3, 1998. The Company was listed on the New York Stock Exchange on July 6, 1998.
Effective July 6, 2009, International Petroleum Investment Company (‘IPIC’) and NOVA Chemicals Corporation (the ‘Company’) announced the completion of the acquisition of the Company by way of a plan of arrangement. The Company was delisted from the Toronto Stock Exchange and New York Stock Exchange on July 7, 2009.
Founded as Nova Corporation
Engaged in the manufacture and distribution of plastics and chemicals
INEOS NOVA EUROPEAN HOLDING B.V.
ERNST & YOUNG LLP
US SIC Code
P.O. Box 2518
1000, Seventh Avenue, S.W.
City province or state postal code
T2P 5C6, CALGARY, AB
Phone: +1 403 750 3600
Fax: +1 403 269 7410
Country address: CANADA
Website url: www.novachemicals.com