Moore LDPE outage cost Canada NOVA $90m-95m in 2012

01 March 2013 22:05  [Source: ICIS news]

HOUSTON (ICIS)--The outage at NOVA Chemical's low-density polyethylene (LDPE) unit at Moore in southern Ontario cost the company $90m-95m (€69m-73m) in operating income in 2012, the chief executive of the Canada-based producer said on Friday.

The company has since restarted the unit at its original capacity, said Randy Woelfel, NOVA CEO. Woelfel made his comments during an earnings conference call.

"NOVA has returned to the market with an optimised facility, a streamlined product slate, which will enable reliable asset operations and reinforce customer confidence," he said.

The restart was completed well ahead of the company's original plan, he said.

An outage in December 2011 caused the company to declare force majeure on LDPE from Moore. In April 2012, the company ended the force majeure for a limited number of LDPE grades, and the plant was running at reduced rates.

($1 = €0.77)

By: Al Greenwood
+1 713 525 2645

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