Nova Chemicals says business is improving

12 April 2007 21:53  [Source: ICIS news]

HOUSTON (ICIS news)--Nova Chemicals had strong performance in March and expects second quarter results to reflect overall improved business conditions, the company's president said on Thursday.

President Jeffrey Lipton said during an annual shareholders meeting that the market worked through excess stocks of plastics in January and February, helping the company to achieve stronger performance in March.

The market for ethylene and polyethylene should remain strong through 2011 due to growing demand for these products and delays in adding new capacity, he said.

In other news, shareholders approved the re-election of company directors, the continuation of Ernst & Young as financial auditors and ammendments to the stock option plan.

By Al Greenwood

By: Staff Reporter
+44 20 8652 3214

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