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Nova Profits Boosted by Strong Sales and Selling Prices

8:06 AM MDT | May 26, 2011 | Lindsey Bewley

Nova Chemicals reported first-quarter net income of $163 million, up 69% from the year-ago quarter, on stronger sales volumes and higher selling prices.   Operating income in the company’s olefins and polyolefins segment was $282 million, up 52% from the first quarter of 2010, on higher sales volumes and selling prices that increased more than feedstock costs.   Nova’s performance styrenics business posted operating income tripled, to $3 million, on higher sales volumes and lower fixed costs, the company says.   The company announced...

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