Nova Chemicals is a focused commodity chemical company, producing styrenics and olefins/polyolefins in the US, Canada, France, the Netherlands and the UK. Nova Chemicals is divided into two business units and one major joint venture: Olefins/Polyolefins, Performance Styrenics and INEOS Nova.
On 3 July 2009, Nova Chemicals said that all regulatory approvals required to complete the acquisition of Nova Chemicals by International Petroleum Investment Company (IPIC) had been received.
Nova has followed a five-point strategy: to focus on plastics and chemicals; be the low-cost provider; invest only for high returns; build upon and add to its competitive advantage; and be an industry consolidator.
Nova says it is putting more and more emphasis on product and business differentiation in its operations, R&D and capital expenditure plans within its two core product chains. It believes its performance products and new business developments have the potential to generate significant earnings.
Nova Chemicals with headquarters in Calgary, Alberta, Canada, had revenues of $7.4bn in 2008.
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Key Personnel
Chairman: James Stanford
President and CEO: Christopher Pappas (retires 31/12/09)
CEO: Randy Woelfel
Chief financial officer: Larry MacDonald (retires 31/12/09)
Chief financial officer: Todd Karran (takes over as CFO 01/01/10)
Director: Jerald Blumberg
Director: F Peter Boer
Director: Jacques Bougie
Director: Joanne Creighton
Director: Robert Dineen
Director: L Yves Fortier
Director: Kerry Hawkins
Director: Arnold Ludwick
Director: James Stanford
Director: Joseph Thompson
Director: Janice Rennie
Director: Charles Fischer
(Updated October 2009)
Contacts
Nova Chemicals Corporation
645 Seventh Avenue SW
PO Box 2518, Station M
Calgary, Alberta
Canada T2P 5C6
Tel: +1 403 750 3600
Fax: +1 403 269 7410
www.novachem.com
Nova Chemicals
Company Structure
Nova Chemicals is a focused commodity chemical company, producing styrenics and olefins/polyolefins. Nova Chemicals' roots stem back to the 1950's when it began life as The Alberta Gas Trunk Line Company. In July 1998, Nova Chemicals was launched as an independent company.
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Nova Chemicals
Strategy & Financial Highlights
Since its founding in 1998, Nova has utilised a five-point strategy: to focus on plastics and chemicals; be the low-cost provider; invest only for high returns; build upon and add to its competitive advantage; and be an industry consolidator. (Edited from: “Letter to shareholders”). ICIS also provides you with key financial data listed in table form.
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